Presentation is loading. Please wait.

Presentation is loading. Please wait.

TL 10.03 – Explore ways to manage money. CONTENT OUTLINE Ways to manage money A. Budgeting 1. Planning 2. Spending 3. Saving.

Similar presentations


Presentation on theme: "TL 10.03 – Explore ways to manage money. CONTENT OUTLINE Ways to manage money A. Budgeting 1. Planning 2. Spending 3. Saving."— Presentation transcript:

1 TL – Explore ways to manage money. CONTENT OUTLINE Ways to manage money A. Budgeting 1. Planning 2. Spending 3. Saving

2 TL – Explore ways to manage money. CONTENT OUTLINE Ways to manage money B. Maintaining a checking account 1. Writing a check 2. Maintaining check register 3. Reconciling bank statement C. Electronic banking

3 TL – Explore ways to manage money. TERMS TO KNOW: EXPENSE: Anything on which a person spend $ RECONCILING: To make compatible (your bank records with the bank statement) RECEIPT: Written or printed record of purchase

4 1. Planning A FINANCIAL BUDGET is a plan for spending and saving money. Can be developed, monitored, and changed using computer! Lists income and expenses. TL – Explore ways to manage money.

5 1. Planning A realistic budget – average expenses for a few weeks in major expense category TL – Explore ways to manage money. Food budget – food purchased at grocery store

6 2. Spending Checking Account : Be aware of hidden check charges and fees : The cost of checks : The cost per number of checks written each month : Fees for over draft coverage : Fees for “bounced” checks TL – Explore ways to manage money.

7 3. Saving Savings Account : Should begin saving money as soon as you get a job : Be aware of fees charged for savings accounts : Planning for retirement when first beginning work is a WISE investment TL – Explore ways to manage money. : Amt. Of interest earned primarily depends on principal & interest rate : DO NOT spend all $ earned each week!

8 Personal checking/debit accounts Writing Checks Current Date – not future one Who you are writing the check to The amount of the check in words; use and to join $ & ¢ as a fraction Note what check is for Valid only if signed; NEVER sign a blank check Amt. Of $ in #s TL – Explore ways to manage money.

9 Personal checking/debit accounts Writing Checks 11/03 03 CASH One hundred and no/ Christmas presents My Signature TL – Explore ways to manage money.

10 Personal checking/debit accounts Endorsing Checks 11/03 03 CASH One hundred and no/ Christmas presents My Signature TL – Explore ways to manage money. Do not write below this line Endorsing a check – signing back of check written to you

11 Personal checking/debit accounts Check Register Record all changes or credits affecting account Number Date Description of Transaction Payment/Debit Deposit Balance /04 Piggly Wiggly /10 DEPOSIT Record the #, date & payee of the check in your check register. Subtract amount of check from previous balance Record all deposits as well TL – Explore ways to manage money.

12 Personal checking/debit accounts Deposit Slips Current Date Cash Amount Check Amount Added Amounts $ back Signature only if money received back Deposit Amount TL – Explore ways to manage money.

13 Personal checking/debit accounts Reconcile statement Record all changes or credits affecting account Number Date Description of Transaction Payment/Debit Deposit Balance /04 Piggly Wiggly /10 DEPOSIT Making sure that your statement and the banks information match! TL – Explore ways to manage money.

14 Electronic Banking : Debit Cards - used in place of a check TL – Explore ways to manage money. : ATMs get $ from account when bank is closed

15 Wise credit use… Ask yourself… : Will I still be using this item when I have finished paying for it? : Would I still buy this if I had to pay for it with cash? : Will I have enough money to make the payments for this item? TL – Explore ways to manage money.

16 TL 8.03 Practice Managing Money Write the following money amounts as if writing them on a check. $ Four Hundred Three and 23/100 dollars $92.46 Ninety-two and 46/ dollars $9.89 Nine and 87/ dollars

17 TL 8.03 Practice Managing Money Write the following money amounts as if writing them on a check. $ One hundred two and XX/ dollars $1, One thousand forty-eight and 99/ dollars $10.50 Ten and 50/ dollars $ Six hundred sixty and 19/ dollars $1.00 One and XX/ dollars $15.66 Fifteen and 66/ dollars $ Five hundred forty-three and 21/ dollars


Download ppt "TL 10.03 – Explore ways to manage money. CONTENT OUTLINE Ways to manage money A. Budgeting 1. Planning 2. Spending 3. Saving."

Similar presentations


Ads by Google