Unit 5 - Your Money:
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Unit 5 - Your Money: Keeping it Safe and Secure. You deposit money in the account. You can add or take out money at any time. The savings institution is allowed to use your money to invest and earn a profit. You are paid a small amount of interest for depositing your money.

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Unit 5 - Your Money: Keeping it Safe and Secure

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Unit 5 your money keeping it safe and secure

Unit 5 - Your Money:

Keeping it Safe and Secure


When you open a savings account

You deposit money in the account.

You can add or take out money at any time.

The savings institution is allowed to use your money to invest and earn a profit.

You are paid a small amount of interest for depositing your money.

Your money is insured against loss.

When You Open a Savings Account

5-C


Saving for financial goals

Using a savings account to set aside funds for your financial goals…

Takes the money you are saving out of your wallet.

Keeps it in a secure place.

Lets you keep track of what you have saved.

Earns a small amount of interest in the process.

Saving for Financial Goals

5-D


Savings deposit exercise 5 c page 62

Savings DepositExercise 5-C, Page 62

x

1

2

5

0

9

Today’s date goes here

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7

5

2

5

Print Your Name Here

Print Your Address Here

5

0

0

3

4

Sign Your Name Here

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5

0

0

3

3

3

3

3

3

3

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2

5

3

4

5-E-1


Complete exercise 5 c page 62

Complete Exercise 5-C, Page 62

5-E-2


Savings deposit exercise 5 c page 621

Savings DepositExercise 5-C, Page 62

x

1

0

0

0

0

Today’s date

Your Name

Your Address Here

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5

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1

0

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-

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1

0

0

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0

5-E-3


Check details

Check Details

Make sure your personal information on the check is correct.

5-F-1


Check details1

Check Details

Here is the number of this Check.

5-F-2


Check details2

Check Details

This is the Routing Number for your bank (used for electronic transfers of funds from your account to the payee’s account

5-F-3


Check details3

Check Details

This is your Account Number. (Note that sometimes these two numbers are the reverse of what is shown here.)

5-F-4


Check details4

Check Details

This is just your check number again (see above right).

5-F-5


Check details5

Check Details

Enter the date you write each check.

January 15, 2009

5-F-6


Check details6

Check Details

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!

January 15, 2009

Best Foods Supermarket

5-F-7


Check details7

Check Details

Legibly print the amount of money this check is for.

January 15, 2009

Best Foods Supermarket

25.65

5-F-8


Check details8

Check Details

On the lower line, write out the amount like this.

January 15, 2009

Best Foods Supermarket

25.65

Twenty-five and 65/100 - - - - - - - - - - - - - - - - - - - - - - - -

5-F-9


Check details9

Check Details

Place to add any information you want to related to this check.

January 15, 2009

Best Foods Supermarket

25.65

Twenty-five and 65/100 - - - - - - - - - - - - - - - - - - - - - - - -

Snacks for Party

5-F-10


Check details10

Check Details

Put your personal signature here.

January 15, 2009

Best Foods Supermarket

25.65

Twenty-five and 65/100 - - - - - - - - - - - - - - - - - - - - - - - -

John M. Smith

Snacks for Party

5-F-11


Check details11

Check Details

January 15, 2009

Best Foods Supermarket

25.65

Twenty-five and 65/100 - - - - - - - - - - - - - - - - - - - - - - - -

John M. Smith

Snacks for Party

5-F-12


Keep a record

Keep a Record

Deposit

1/11

Deposit to Checking

200 00

200 00

200 00

Auto

1/11

Charge for Personalized Checks

20 00

20 00

WD

180 00

23 11

100

1/15

Fine Foods

23 11

Groceries

156 89

5-G


Does it balance reconciling your checking account statements

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.

Does It Balance?Reconciling your checking account statements

5-H-1


Does it balance reconciling your checking account statements1

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?Reconciling your checking account statements

5-H-2


Exercise 5e does it balance

Addinterest and other deposits made but not yet entered in your checkbook balance sheet.

Subtractany service charge or other deductions not previously entered in your checkbook balance sheet.

Adddeposits made but not shown on this statement.

Subtractchecks issued and withdrawals made but not shown on the statement.

Exercise 5E: Does It Balance?

5-H-3


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