personal finance basics. purpose the purpose of this presentation is to allow students to explore...
TRANSCRIPT
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PERSONAL FINANCE BASICS
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Purpose
The purpose of this presentation is to allow students to explore the basics of personal finance such as check writing, writing a deposit slip, managing credit card payments, and saving for their future. Students will have the opportunity to explore the different aspects of personal finance independently and at the pace that suits them best.
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Pennsylvania Family and Consumer Science standards
11.1.9.B Explain the responsibilities associated with managing personal finances (e.g., savings, checking, credit, non-cash systems, investments, insurance).
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Personal Finance Basics
Check writing
Credit Cards
Filling out a deposit slip
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To write a check go through the following steps…
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Step 1: write the date
9/10/10
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Step 2: write down who the check is going to
Giant Grocery Store
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Step 3: write the amount of money the check is for in numbers
57.00
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Step 4: write the amount of dollars in words and the amount of cents in the form of a fraction.
Fifty-seven and 00/100-----------------------------------------
If your writing doesn’t take up the entire line then draw a line to fill up the rest of the empty space. This is done so that no one can add extra numbers to your check.
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Step 5: On the memo line write what the check is for.
Writing something on the memo line is not mandatory, but it can help you or the person the check is going to stay organized.
Groceries
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Step 6: Finally, you must sign your name so that the check can be cashed or deposited.
Signature goes here
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Now it’s your turn!
Take your blank practice check and fill it out using the following information:
write a check to Verizon Wireless in the amount of $52.75 for your cell phone bill.
Click here to find out more great information about checks and how to open a checking account of your own.
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To find out what it means to balance your checkbook click here.
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What is Credit?
A way to get things you need now while paying for them later. Major items bought on credit may include a car, house, student loans etc.
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To learn about the dangers of bad credit click here.
On your worksheet list 3 reasons why someone may look at your credit history.
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Filling out a deposit slip
Step 1: write the date of your deposits
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Step 2: sign your name on the line below the date if you would like to receive cash.
Sign your name here
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Step 3: Write down the amount of cash you would like to deposit.
Sign your name here
35 15
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Step 4: List the check numbers and amounts below your cash.
Sign your name here
35 15
# 234
# 235
Check #234 is for $56.00Check #235 is for 75.00
56 00
75 00
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Step 5: Add together the value of your cash and checks and place this next to the subtotal.
Sign your name here
35 15
# 234
# 235
56 00
75 00
***note – If you have more checks to deposit than will fit on the front of your deposit slip they must be listed on the back
166 15
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Step 6: If you would like to receive cash back from the bank teller this can be listed next to “Less cash received.”
Sign your name here
35 15
# 234
# 235
56 00
75 00
166 15
20 00
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Step 6: Subtract your cash back from the subtotal. Write this next to the Net Deposit. This is the amount of money that will be deposited into your bank account.
Sign your name here
35 15
# 234
# 235
56 00
75 00
166 15
20 00
146 15
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Fill out the deposit slip on your worksheet using the following information:
You would like to deposit $20.00 in cash and two checks into your bank account. The first check is #15 and is in the amount of $82.24. The second check is #45 and is in the amount of $44.00. You would like to receive $35.00 cash back.
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Resources
http://www.usposttoday.com/wp-content/uploads/2010/04/credit-card11.jpg
http://school.discoveryeducation.com/clipart/images/school-checkbook-color.gif
http://player.discoveryeducation.com/index.cfm?guidAssetId=ea17a212-aa42-4887-84b4-0feba037df5d
http://player.discoveryeducation.com/index.cfm?guidAssetId=09b9c8d6-362b-45ae-9250-b3355e3092a4
http://player.discoveryeducation.com/index.cfm?guidAssetId=a8f1c212-d311-45b6-86f6-2e208be46e1f