1. Planning 10 Learning Guide 15 Planning 10 Learning Guide 15 Money Management Chequing Accounts Click for next Watch this corner for prompts on when you are expected to click the mouse button.

2. Chequing Accounts Step 2 Reading bank statements (also known as “how much money do they think I have?”) Click for next

3. Bank Statement A “bank statement” is just a report about your chequing account that the bank will mail to you each month. Every single time you put money into your account, or take money out of your account (no matter what the method…ATM, cheque, debit card), your bank records the transaction, and keeps track of your balance. However, it takes a few days for transactions to get to your bank (especially if they’re paper transactions as opposed to electronic transactions.) Therefore, the bank is always out-of-sync with your cheque register, which is always up to the minute (right? RIGHT?) Click for next

4. Bank Statement We’re going to show you how to read a bank statement, but always keep in mind that what the bank statement SAYS you have is very rarely, if ever, accurate. This is because of the time lag that it takes for cheques to “clear”, the time lag to “cut off” transactions and print your statement, and the time it takes for your statement to reach you through “snail mail”. In part three of this series, we’ll show you how to double-check on your bank and make sure THEIR statement agrees with YOURS (your cheque register). Click for next

5. Here is a sample of a bank statement. Your own bank statement will probably look quite different, but will have essentially the same information Click for next Your personal information Statement start & end date

6. Your account number The opening balance (which is the same as the “New Balance” on the previous statement) A summary of all the: Deposits Withdrawals Service charges Click for next And finally… Your new balance (which will be the opening balance on your next statement)

7. A detailed listing of every transaction that took money out of your account (debits) Click for next All of these debits add up to the total printed in the summary of the statement.

8. Click for next A detailed listing of every transaction that put money into your account (credits) All of these credits add up to the total printed in the summary of the statement.

9. Your turn: Complete worksheet “Reading a Bank Statement”. Click to end