110 likes | 281 Views
DOW NOW. Sign-in Say, “Hello” to your teachers Get your notebook and a pencil. Writing Checks. SWBAT write personal check in order to pay a monthly bill. . TODAY , we will learn how to write a personal check. EXIT Ticket will be a check for the payment of a specific bill . WHY.
E N D
DOW NOW • Sign-in • Say, “Hello” to your teachers • Get your notebook and a pencil
Writing Checks SWBAT write personal check in order to pay a monthly bill.
TODAY, we will learn how to write a personal check. • EXIT Ticket will be a check for the payment of a specific bill.
WHY • A check is written in order to pay ($) someone a specific amount of money on a certain date.
How this works: • Your paycheck is deposited (cashed) into the bank. • You then use the money to pay your bills. • You pay your bills using a check.
YOU NEED • The monthly budgets you created.
Give me my money! • RENT: Lawson Rentals • CABLE: Vaux Cable Company • CELL PHONE: Cougar Wireless
Example • Interactive exercise: http://www.moneyinstructor.com/wsp/writecheck.asp
Vocabulary • Payee: The party that receives the check. • Payor: The party that writes the check (to the payee). • Bank book: A booklet that is used to keep a record of all your checking related transactions, including checks written and deposits. • Endorse a Check - Check Endorsement: When the payee signs their name on the back of a check to cash or deposit the check. • Balance: The amount of money currently in your checking account. • Non-sufficient Funds: When you write a check for more money than you have in your account. • Minimum Balance: The minimum amount of money required in your account. Having an amount less than the minimum balance may result in extra service charges or reduced privileges. • Service Charge: An amount the bank charges (fees) for use of the checking account.
Your bank book • Keep record of your money. • Most banks do this for you for FREE! • WHY DO THIS? – so you always know how much is in your account.