Personal Finance: Writing A Check

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Presentation transcript:

Personal Finance: Writing A Check Hey check this out… I can write a check.

Students will learn how to how to write checks. Lesson Objective: Students will learn how to how to write checks.

Parts of a Check Check Number 101

The date you write the check Parts of a Check The date you write the check Date:__________ 101

Parts of a Check Your name and contact information Your Name Your Address Your City and State Date:__________ 101

The person or business you are paying Parts of a Check The person or business you are paying Your Name Your Address Your City and State Date:__________ 101 PAY TO:____________________________________ Use a first and last name. Mr. Hunter could be a lot of people, but Wesley Hunter is more specific.

Parts of a Check The Check Courtesy Amount: What you are paying them, written with numerals. Your Name Your Address Your City and State Date:__________ 101 PAY TO:____________________________________ $ ____________ Include the decimals. Ex: $500.00

The Check Legal Amount: what you are paying them, written with words. Parts of a Check The Check Legal Amount: what you are paying them, written with words. Your Name Your Address Your City and State Date:__________ 101 PAY TO:____________________________________ $ ____________ ________________________________________________Dollars Use hyphens properly and a squiggly line at the end to show the number is finished. Ex: Two Hundred Thirty-Five and 75/100

The name and address of your bank Parts of a Check The name and address of your bank Your Name Your Address Your City and State Date:__________ 101 PAY TO:____________________________________ $ ____________ ________________________________________________Dollars Hunter Bank of Commerce 345 Frankie Lane Starkweather, CA 91008

A memo to remind yourself why you wrote the check Parts of a Check Your Name Your Address Your City and State Date:__________ 101 PAY TO:____________________________________ $ ____________ ________________________________________________Dollars Hunter Bank of Commerce 345 Frankie Lane Starkweather, CA 91008 For:_________________ A memo to remind yourself why you wrote the check

Parts of a Check Your Signature 101 Your Name Your Address Your City and State Date:__________ 101 PAY TO:____________________________________ $ ____________ ________________________________________________Dollars Hunter Bank of Commerce 345 Frankie Lane Starkweather, CA 91008 _______________________ For:_________________ Your Signature

Bank Routing Information Parts of a Check Your Name Your Address Your City and State Date:__________ 101 PAY TO:____________________________________ $ ____________ ________________________________________________Dollars Hunter Bank of Commerce 345 Frankie Lane Starkweather, CA 91008 _______________________ For:_________________ I:000000000I: I:000000000I: 101 Bank Routing Information

3 Rules for Writing Checks Always Write the Check in Pen. Pencil is easily erased and changed by someone else. Always be Accurate. If you make a mistake, void the check and write a new one. Sign the Check Last. Don’t leave your signature lying around. Only sign the good checks.

One more thing… Checks are only good for about 6 months from the date written on them. This especially causes trouble in January of a new year. If you write the wrong year on the check, the bank may not honor it.

Find the Error(s) Peyton Laffoon 10/29/2014 Mr. Hunter Corp. 505.80 1234 School Road Seniorville, Alaska 11111 10/29/2014 Mr. Hunter Corp. 505.80 Five-hundred thirty -five and 80/100 Peyton Laffoon October Rent

The amounts don’t match. Find the Error(s) Peyton Laffoon 1234 School Road Seniorville, Alaska 11111 10/29/2014 Mr. Hunter Corp. 505.80 Five-hundred thirty -five and 80/100 Peyton Laffoon October Rent The amounts don’t match.

Find the Error(s) Peyton Laffoon 1234 School Road Seniorville, Alaska 11111 10/29/2014 Mr. Hunter Corp. 505.80 Five-hundred thirty -five and 80/100 Peyton Laffoon October Rent The Check Legal Amount is the amount the bank will use if they are not the same.

Find the Error(s) Joe Morales 9/29/2014 535.80 Mr. Jones 493.75 Wesley Hunter 4200 Hosking Bakersfield, CA 9/29/2014 535.80 Mr. Jones 493.75 Five hundred thirty-five and 80/100 Joe Morales September Rent

Find the Error(s) 2 1 3 4 Joe Morales Not a full name. Wesley Hunter 4200 Hosking Bakersfield, CA 9/29/2014 535.80 2 1 Mr. Jones 493.75 3 Five hundred thirty-five and 80/100 4 Joe Morales September Rent Not a full name. Error: Should Void Check. No squiggly line. Not the same name as the check’s owner.

Payroll Checks This is the Paycheck Stub. It tells you how your employer figured out your wages.

Practice: Using a check worksheet, write these checks: Hunter Auto Works: $350.89 Engine Repairs CM Grocers: $37.10 Groceries WH&E: $34.92 Electric Bill Fransen Wireless: $75.33 Cell Phone Bill

Review: What are the three rules for check writing? How long is a check good for? Which dollar amount on the check is the legal one?

Review: What are the three rules for check writing? How long is a check good for? Which dollar amount on the check is the legal one? Always write the check in pen. Always be accurate. Sign the check last. About 6 months. The Check Legal Amount; written with words.