Bell Work, Tuesday 5/12 O What scale do we use to measure
tornadoes? O How loud can cicadas get? O What does Dr. Jim Withers
do?
Slide 2
Personal Finance Literacy Checking
Slide 3
Why Open a Checking Account? O Safety O Dont walk around with a
lot of cash O ATM card/checks can be replaced O Convenience O Dont
need cash O Bad idea to send cash in the mail O Easy access to your
account O Easier Budgeting O Track spending with a check register O
Proof of Payment O cleared checks are a record of payment O Less
impulsive spending O Cash in your pocket is too easily spent
Slide 4
Opening a Checking Account Things to consider when opening a
checking account: O Location O Branch offices, hours of operation,
ATM availability O Fees O Monthly fees, per check fees, printing of
checks, balance inquiry fees, ATM fees O Other fees O Overdraft
charge, stop- payment fees, certified check fees O Restrictions O
Minimum balance, deposit insurance, holding period for deposited
checks O Special features O Direct deposit, automatic payments,
overdraft protection, online banking, discounts or free checking
for students, seniors or employees of certain companies
Slide 5
Opening a Checking Account O Once you choose a checking
account, to actually open it you need: O 2 forms of ID O Any money
you want to deposit O Fill out paperwork O Receive box of checks
& register in the mail
Slide 6
Check Dos and Donts Dos O Always write checks in ink O Keep
unused checks in a place where other will not have easy access to
them O Check your statement regularly Donts O Write checks for
money you dont have O bounced check O Endorse a check (sign the
back) you plan on depositing later
Slide 7
ATM/Check/Debit Cards O An alternative to writing checks O
Pros: O Less to carry around O Faster transactions O Cons O
Memorize and protect your PIN O Reporting lost or stolen cards