Junior Achievement 3.3 “Make It Count”. Let’s review our vocabulary:

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Presentation transcript:

Junior Achievement 3.3 “Make It Count”

Let’s review our vocabulary:

 Check:

Let’s review our vocabulary:  Check: A written order to a bank, credit union, or other financial institution to pay a certain amount of money from one account to another person, business, or organization.  Check: A written order to a bank, credit union, or other financial institution to pay a certain amount of money from one account to another person, business, or organization.

Let’s review our vocabulary:  Endorse:

Let’s review our vocabulary:  Endorse: To sign your name on the back of a check to make it payable.

Let’s review our vocabulary:  Income:

Let’s review our vocabulary:  Income: Payment for the use of resources, such as salaries from a job.  Income: Payment for the use of resources, such as salaries from a job.

Let’s review our vocabulary:  Net Deposit:

Let’s review our vocabulary:  Net Deposit: The amount of money put into an account minus any cash received.  Net Deposit: The amount of money put into an account minus any cash received.

“By failing to prepare, you are preparing to fail.” -Benjamin Franklin

Do you agree with this statement? Why or why not? Please write your response in the Daily Writing Prompt.

Why is it important to plan your spending before you actually spend any money?

Today you will learn how to make a deposit into a checking account and the importance of carefully planning how to spend your income.

Remember, successful participation at JA BizTown depends on your money management skills!

We now know how to write a check, but how do we keep track of all the money going in and out of a checking account? Any ideas?

In order to properly manage a checking account, you must know how to make a bank deposit and balance a check register.

 Check Register: A record of transactions made to a checking account.

Have you ever seen a check register? What is on it?

 Deposit Ticket: A written record of money put in a bank account.

One of the most important parts of the deposit ticket is the net deposit. Review: What is a net deposit?

A net deposit is the amount of money deposited in an account minus any cash received. Why is this an important part of a deposit ticket?

Now turn to page 41 in your workbook. As a class, complete the questions and check register.

Why is it important to be accurate and kept up to date on a check register?

Now, complete the Word Map on page 42 of your workbook. During our next lesson, you will be able to practice these skills as you continue to prepare for JA BizTown!