NEFE High School Financial Planning Program Unit 5 – Your Money: Keeping it Safe and Secure Writing Utensil Blue / black normal pen –Gel pens may not

Check BooksCheck Books

NEFE High School Financial Planning ProgramNEFE High School Financial Planning ProgramUnit 5 – Your Money: Keeping it Safe and Secure

Writing Utensil

• Blue / black normal pen– Gel pens may not read– Colors may not show up on digital scans

• Safety pens– Ink is absorbed into the check and cannot be

‘washed’ off

DepositDepositExercise 5-C, Page 62Exercise 5-C, Page 62

Today’s date goes herePrint Your Name HerePrint Your Address Here

Sign Your Name Here33 3 3 3 3 3

x

1 2 5 0 9

3 75 2 5

7 5 0 0

4 2 5 3 4

11

22

33

44

55

77

66

5-E-15-E-1

5 00 3 4

Click the numbers

Complete Exercise HandoutComplete Exercise Handout

5-E-25-E-2

DepositDepositExercise 5-C, Page 62Exercise 5-C, Page 62

Mrs. Catalano

1001 S. Barnes Rd Mason MI

40

x

50 0 0

389 7 9

5-E-35-E-3

06 3 1 03

14 7 9

5

31 4 67

01 2

4

2 5 0 0


Endorsing Checks

• Endorsement: Signing your approval for a check to be chased

• Blank: Sign your name

• Restrictive: Make sure deposited only in your account– For Deposit Only, Sign Name, Account #

• Special: Give check to someone else– Pay to the order of, Their name, Sign


Practice• Handout with Endorsement and another

Deposit


Check Practice

Check DetailsCheck Details11 22 33 44 55 99887766 1010

This is the Routing Number for your bank (used for electronic This is the Routing Number for your bank (used for electronic transfers of funds from your account to the payee’s account)transfers of funds from your account to the payee’s account)This is your Account Number. (Note that sometimes these two This is your Account Number. (Note that sometimes these two numbers are the reverse of what is shown here.)numbers are the reverse of what is shown here.)This is just your check number again (see above right).This is just your check number again (see above right).Here is where you write the name of the party you are writing your Here is where you write the name of the party you are writing your check to (the payee). Be sure to write or print legibly!check to (the payee). Be sure to write or print legibly!On the lower line, write out the amount like this.On the lower line, write out the amount like this.Legibly print the amount of money this check is for. Legibly print the amount of money this check is for. Enter the date you write each check.Enter the date you write each check.Place to add any information you want to related to this check.Place to add any information you want to related to this check.Put your personal signature here.Put your personal signature here.Make sure your personal information on the check is correct.Make sure your personal information on the check is correct.Here is the number of this Check.Here is the number of this Check.

1111

5-F5-F

Click the numbers

John M. Smith


Practice Writing a Check & Recording

• Handout Start with $416.68– 1st Check # 234– For Shoes to Robinson’s Department Store,

$47.93


235235 3/123/12 Acme Insurance – Auto Acme Insurance – Auto

234234 3/73/7

350350

Last BalanceLast Balance

Robinson’s DepartmentRobinson’s DepartmentShoesShoes

-47.93-47.93

18.718.755

416.68416.68

Keep a RecordClick HereClick Here

5-G5-G

47.9347.93 368.75368.75

11 22 33 Finish recording transactions

274.36274.36


Does It Balance?Does It Balance?Reconciling your checking account statementsReconciling your checking account statements

5-H-15-H-1

Why reconciling is important

• Lets you check for mistakes and checks you wrote but did not enter.

• Gives you a chance to subtract other charges that the financial institution may have added.

• Lets you add any interest that your checking account may have earned.

1 of 2


5-H-25-H-2

Why reconciling is important

• Not all the checks you have written will always be shown, because they may not have been cleared by your bank or credit union.

• Uncleared checks will show up on your next statement.

Does It Balance?Does It Balance?Reconciling your checking account statementsReconciling your checking account statements

2 of 2


Exercise 5E: Does it Balance?Exercise 5E: Does it Balance?

1.1. AddAdd interest and other deposits made interest and other deposits made but not yet entered in your checkbook but not yet entered in your checkbook balance sheet.balance sheet.

2.2. SubtractSubtract any service charge or other any service charge or other deductions not previously entered in your deductions not previously entered in your checkbook balance sheet.checkbook balance sheet.

3.3. AddAdd deposits made but not shown on deposits made but not shown on this statement.this statement.

4.4. SubtractSubtract checks issued and withdrawals checks issued and withdrawals made but not shown on the statement.made but not shown on the statement.

5-H-3 PRACTICE WITH HANDOUT


Debit Cards

HOW TO USE A DEBIT CARD

• Swipe the debit card in the card reader, or give it to the clerk to swipe.

• Choose the “Debit” option.

• Enter your PIN number*

• Enter the amount of cash back, if desired.

• Money is taken directly out of your checking account, so enter the amount spent into your checking ledger.

5-J5-J *About your PIN

About Your PINAbout Your PIN

• PIN stands for Personal Identification PIN stands for Personal Identification Number. This number gives you access Number. This number gives you access to your account, so it’s important to to your account, so it’s important to keep it secret.keep it secret.

• Memorize your PIN number. Do not Memorize your PIN number. Do not write it down and keep it somewhere in write it down and keep it somewhere in your wallet (where someone could find your wallet (where someone could find and use it).and use it).

5-J-Extra5-J-Extra


Using Debit Card as Credit• Swipe the credit card in the card reader, or

give it to the clerk to swipe.

• Choose the “Credit” option.

• Sign the receipt.

• Keep and save your copy of the receipt to record later in order to keep track of what you have spent.

5-K5-K

Documents

NEFE High School Financial Planning Program Unit 5 – Your Money: Keeping it Safe and Secure Writing Utensil Blue / black normal pen –Gel pens may not