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Using A Check Book

Using A Check Book. 3 rd Grade Math Jeanette Conner. What We Need To Know. What is a checking account? Why do you need one? What is a deposit? What is a withdrawal? What is a balance? How do you know your balance?. What is a checking account?.

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Using A Check Book

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  1. Using A Check Book 3rd Grade Math Jeanette Conner

  2. What We Need To Know What is a checking account? Why do you need one? What is a deposit? What is a withdrawal? What is a balance? How do you know your balance?

  3. What is a checking account? • An account used to deposit money at a bank or credit union. • Money can be added or removed from the account by visiting the bank or writing a check. • Banks may require a minimum to open or maintain the account.

  4. Why do you need one? • Checking accounts are used to pay bills, buy groceries, and to buy other items. • A safer way of keeping money and not carrying cash. • Some vendors do not except cash. • It can be use for proof of purchase.

  5. What is a deposit? • Put something somewhere: to put or drop leave something in safe place: to leave something somewhere for safekeeping • Put money in bank: to pay money into an account in a bank or other financial institution • A deposit is how money is put into a checking account.

  6. What is a withdrawal? Taking money from bank: the act of taking money from a bank account, or the amount of money taken out.

  7. What is a balance? The amount of money in an account – which is how much money you have left to spend. To get the balance in a checking account – start with how much money is in the account and subtract the checks and withdrawals you have made. (Banks usually charge a small amount for the use of a checking account each month.)

  8. Writing a check 1.  2.  3. 4.  5.  6.  Fill in the date. Name of business or person receiving check. Amount written in numeric form after $ sign. Amount of check written in word form on next line. For ____________ (why you are writing the check) Your Name (first and last) ((Always make sure you have money in your account before writing a check.))

  9. Using your check register AFTER Writing A Check: Check number Date Who the check is to Amount Subtract amount of check from balance Enter your new balance

  10. Using your check register (con’t) Adding A Deposit: 1. Date 2. Where money came from 3. Amount of deposit 4. Add amount of deposit to balance 5. Enter your new balance

  11. More Things To Think About: • Over Drawn Accounts • Savings Account • What to save for • Interest • Over Spending/Piling Up Debt • Borrowing

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