1. Check Writing and Budgets Fixed vs. Flexible

2. Check Writing Memo line Your legal signature Company or personal name Date of check Written numeric amount Amount for check

3. Company or Personal Name Write the full and correctly spelled name of the person or company you are writing the check to Ex. Lenny Fitzherbert NOT L Fitzy Ex. Walmart NOT Wally World In order to deposit or cash a check, the spelling must be correct Ex. Ulrich, NOT Ulrick

4. Memo line Write something that will trigger in your mind the reason for writing the check just in case you forget It will also help you remember which payment it is within monthly payments Ex. March 2012 rent, September daycare, T- shirts for volleyball

5. Amount of the Check Always fill in the numeric amount completely- $120.00 not $120 If there is extra room where you have written it, draw a line so that no one can add additional zeros or numbers $120.00-----

6. Written Numeric Amount On this section, write the numeric amount as shown below: One hundred twenty dollars and 00/100 One thousand four hundred fifty-two and 67/100 Do not use the word AND unless you are moving on to the decimal amount.

7. Practice Write these amounts in extended form: $1,345.89 $35.78 $202.00 $170,450.50 $476.02

8. Legal Signature You will use a legal signature when signing important documents. It does not have to be your full name, but it has to be consistent Practice now what will be your legal signature IT MUST BE IN CURSIVE

9. Practice Practice now on your check writing exercise. Remember all parts must be included

10. Fixed Expenses Fixed expenses are those that do not change Either the amount does not change, or your need for the item will not change Utilities Rent Car Payment Daycare costs, etc.

11. Fixed Expenses You should budget FIXED expenses first When your budget is not working, fixed expenses should be the area that remains untouched when re-budgeting

12. Flexible Expenses Flexible expenses are those which change every month They may change in amount you pay or in whether or not they are included in every month’s budget Examples include eating out, entertainment, cell phone bill, cable tv and internet, etc.

13. Flexible Expenses When your budget is not working and something must be adjusted, you should first look at what FLEXIBLE EXPENSES you can adjust For example, if you are short $100, can you lower your cable bill or cut out your cell phone bill completely?

14. Family Finance Project Please get in groups of 4 and prepare to draw your family for this project We will work on this MAJOR grade until March 19, 2013 Today you will receive your fixed expense budgeting activity and your salary information