1. PERSONAL FINANCE BASICS

2. Purpose  The purpose of this presentation is to allow students to explore the basics of personal finance such as check writing, writing a deposit slip, managing credit card payments, and saving for their future. Students will have the opportunity to explore the different aspects of personal finance independently and at the pace that suits them best.

3. Pennsylvania Family and Consumer Science standards  11.1.9.B Explain the responsibilities associated with managing personal finances (e.g., savings, checking, credit, non-cash systems, investments, insurance).

4. Personal Finance Basics  Check writing Check writing  Credit Cards Credit Cards  Filling out a deposit slip Filling out a deposit slip

5.  To write a check go through the following steps…

6. Step 1: write the date 9/10/10

7. Step 2: write down who the check is going to Giant Grocery Store

8. Step 3: write the amount of money the check is for in numbers 57.00

9. Step 4: write the amount of dollars in words and the amount of cents in the form of a fraction. Fifty-seven and 00/100----------------------------------------- If your writing doesn’t take up the entire line then draw a line to fill up the rest of the empty space. This is done so that no one can add extra numbers to your check.

10. Step 5: On the memo line write what the check is for. Writing something on the memo line is not mandatory, but it can help you or the person the check is going to stay organized. Groceries

11. Step 6: Finally, you must sign your name so that the check can be cashed or deposited. Signature goes here

12. Now it’s your turn!  Take your blank practice check and fill it out using the following information:  write a check to Verizon Wireless in the amount of $52.75 for your cell phone bill.  Click here to find out more great information about checks and how to open a checking account of your own.here

13.  To find out what it means to balance your checkbook click here.here.

14. What is Credit?  A way to get things you need now while paying for them later. Major items bought on credit may include a car, house, student loans etc.

15.  To learn about the dangers of bad credit click here.here.  On your worksheet list 3 reasons why someone may look at your credit history.

16. Filling out a deposit slip Step 1: write the date of your deposits

17. Step 2: sign your name on the line below the date if you would like to receive cash. Sign your name here

18. Step 3: Write down the amount of cash you would like to deposit. Sign your name here 3515

19. Step 4: List the check numbers and amounts below your cash. Sign your name here 3515 # 234 # 235 Check #234 is for $56.00 Check #235 is for 75.00 5600 7500

20. Step 5: Add together the value of your cash and checks and place this next to the subtotal. Sign your name here 3515 # 234 # 235 5600 7500 ***note – If you have more checks to deposit than will fit on the front of your deposit slip they must be listed on the back 16615

21. Step 6: If you would like to receive cash back from the bank teller this can be listed next to “Less cash received.” Sign your name here 3515 # 234 # 235 5600 7500 16615 2000

22. Step 6: Subtract your cash back from the subtotal. Write this next to the Net Deposit. This is the amount of money that will be deposited into your bank account. Sign your name here 3515 # 234 # 235 5600 7500 16615 2000 14615

23. Fill out the deposit slip on your worksheet using the following information:  You would like to deposit $20.00 in cash and two checks into your bank account. The first check is #15 and is in the amount of $82.24. The second check is #45 and is in the amount of $44.00. You would like to receive $35.00 cash back.

24. Resources  http://www.usposttoday.com/wp-content/uploads/2010/04/credit-card11.jpg http://www.usposttoday.com/wp-content/uploads/2010/04/credit-card11.jpg  http://school.discoveryeducation.com/clipart/images/school-checkbook-color.gif http://school.discoveryeducation.com/clipart/images/school-checkbook-color.gif  http://player.discoveryeducation.com/index.cfm?guidAssetId=ea17a212-aa42-4887-84b4- 0feba037df5d http://player.discoveryeducation.com/index.cfm?guidAssetId=ea17a212-aa42-4887-84b4- 0feba037df5d  http://player.discoveryeducation.com/index.cfm?guidAssetId=09b9c8d6-362b-45ae-9250- b3355e3092a4 http://player.discoveryeducation.com/index.cfm?guidAssetId=09b9c8d6-362b-45ae-9250- b3355e3092a4  http://player.discoveryeducation.com/index.cfm?guidAssetId=a8f1c212-d311-45b6-86f6- 2e208be46e1f