Information taken from financeintheclassroom.org Managing Your Money with a Checking Account.

Click here to load reader

download Information taken from financeintheclassroom.org Managing Your Money with a Checking Account.

of 6

Transcript of Information taken from financeintheclassroom.org Managing Your Money with a Checking Account.

Getting and Keeping a Checking Account

Information taken from financeintheclassroom.orgManaging Your Money with a Checking AccountLearning About Checking AccountsHaving a checking account is a good idea. Your money will be safe and youll have a record of what youve paid for. Youll know how much you have left to use or save.Only write checks when you have enough money in your accountWrite checks legibly.Write the amount as far to the left as possible.Always use a penDont sign a blank check.Print the right date on checks.Keep checks in a safe place.Destroy voided or unused checks.Record every transaction in the registerKeep a running balance in the register.Rules to using a checking account:

I just bought groceries at Smiths for $147.15. Here is how you fill out the check

10/10/2014Smiths$147.15One hundred forty-seven and 15/100 -----------------------------groceriesJohn DoeRemember to fill out your register with every transaction you make!

745.00100010/ 10Smiths147 15597 85Filling Out a Check ExampleI just received my paycheck for $850.50. This is how I deposit it into my account10/10/2014Smiths$147.15John Doe

745.00Smiths147 15597 85100010/ 10Deposit10/ 11850 501447 35Making a Deposit Example