1. Topic 5 – Tracking Your Money
Wealth Management
2010

2. Financial Service Providers
Identify types of financial service providers
Describe banking services
Types of banking institutions
Investment services
Insurance company services
Advisory or intermediary services
Online services

3. Activity

4. Maintain Financial Records
Definitions: maintain, checkbook register, savings register, deposit, withdrawal
Types of financial records to maintain
Reasons to keep bank accounts up-to-date
Procedures used to maintain financial records
Maintain - keep current or up to date.
Checkbook register – portion of a checking account where account holders keep track of withdrawals, deposits, and the balance of the account.
Savings register – portion of a savings account where account holders keep track of withdrawals, deposits, and the balance of the account.
Deposit – putting money into an account.
Withdrawal – taking money out of an account.

5. Activity

6. Reconcile Bank Statements
Definitions: reconcile, bank statement, transaction, transaction fee, balance, overdraft protection
Components of a bank statement
Identify problems when bank statements are not reconciled
Explain how to read and reconcile a bank statement
Reconcile – process of checking that your records agree with your banks records.
Bank statement – a statement sent by a bank to a checking account customer, such as a union, showing deposits, checks cleared, service charges, interest earned, and ending balances for a specified period, usually one month.
Transaction – the act of conducting or carrying out (business, negotiations, plans); a deal or business agreement; an exchange or trade, as of ideas, money, goods, etc.
Transaction fee – a charge placed on a transaction.
Balance – bringing the balance of an account to equal what the bank has recorded.
Overdraft protection – when the withdrawals of an account exceed the available balance, this protects the account from being assessed a fee.

7. Activity