Sample Check Register

1. Sample Check Register

2. Sample Blank Check Register

3. Sample Transactions Start with a balance of $213.82 and add the following transactions to the sample blank check register. • Check number 567 for $15.80 to Office Depot for school supplies on June 22. • Check number 568 for $43.20 to Walter’s Watch Palace for a new watch on June 27. • A deposit of $75.00 for checks received for your birthday on June 28. • A debit card expense of $6.24 to Subway for lunch with your friends on June 29. • A deposit of $0.15 for interest received from the bank on June 30. • Check number 569 for $12.83 to Target for a mask and snorkel on July 2. • A monthly bank fee of $7.50 for having a checking account on July 3. What is your final balance? _______________

5. Debit Cards Are Not Credit Cards • Be careful with a debit card — money is taken directly, and usually immediately, from your account when you complete a debit transaction using your PIN (personal identification number). Refunds usually take several days. • The protections of a credit card are lost when you use a debit card with a PIN. These include: • If your credit card is lost or stolen and charges are made, you are not responsible for more than $50 if you notify the bank within 2 days of the theft. The same is true for most debit cards, but, like credit cards, you may be responsible for up to $500 of unauthorized spending and banks are allowed to take up to 10 days to take action. The biggest difference is that the money has already been removed from your account with your debit card. • You can dispute a credit card charge in certain cases, and the credit card company can usually resolve issues with undelivered or damaged items. It is very difficult to dispute a charge on a debit card and the money has usually already been removed from your account, making it more difficult to get it back. • Many credit cards offer automatic extended warranties on items over $50; debit cards do not offer this benefit. • If you use your debit card as “credit” you retain the protections of a credit card under federal law, but you will not get a monthly bill — the money is still removed directly from your account, but usually in 24 – 48 hours instead of immediately. • Don’t use a debit card to hold a refundable deposit on an item — always use a credit card. If you hold a deposit on your debit card that money is no longer accessible. • Don’t use a debit card for automatic recurring payments — if the company does not stop the automatic payments when you want them to, you have little recourse and are without the money until you can get it resolved. • Don’t use a debit card to pay for gas at the pump — some stations put a temporary hold of up to $50 on your account when you swipe the card, and it might not come off for a few days, limiting your ability to spend that money. • Be careful — most debit cards can be used like credit cards and many places do not require a signature for purchases under $25, so they are not as secure as they used to be when a PIN was required for every purchase. • Some banks charge customers ATM fees and debit card fees. • Using a debit card, even as a credit card, does not help you build up a good credit history — something that is important to obtain credit cards or to make large purchases such as a car or a house. • Helpful hint: Try to never let your debit card leave your sight — even when paying a merchant. The most common time for fraud to occur is when a debit card is out of sight of the owner.

6. Find examples of why people borrow money. Bring this worksheet to the next class. A Loan Is Money You Have to Pay Back If you talk to most adults, they’ll probably tell you that they have taken out a loan at some point in time. It’s important to remember that no matter what you borrow money for, it must be repaid with interest. What do people borrow money for? You can talk to your parents, grandparents or any other adult, or use the Internet to find examples.