1. Tracking Your Money Standard 4. Managing a Bank Account
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2. Explain the importance of reconciling a bank statement.
Lesson Objectives
Explain the importance of reconciling a bank statement.
Distinguish between using a check, ATM machine, and a debit card.
Demonstrate the ability to balance a checkbook and reconcile a statement.
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3. Automated Teller Machine
Vocabulary
Automated Teller Machine
ATM
A computer * used to conduct business with a * institution or * items such as postage stamps or transportation tickets; also known as a * machine
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4. Vocabulary
Check
A written * directing a bank or credit * to * a person or business a * sum of money
A * document and must be filled in *
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5. Vocabulary
* Card
A plastic card that provides access to * funds transfer (EFT) from an automated machine (ATM) or a * (POS) terminal
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6. Vocabulary
Reconcile
The process of comparing * bank account records to the * records of that account balance in order to uncover any possible *
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7. Payee Vocabulary Person or company * your check
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8. Check Register or Ledger
Vocabulary
Check Register or Ledger
A * that comes with your * checks
Used to * your checks, * withdrawals, *, and deposits
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9. Check Routing Numbers Vocabulary
Printed on your * and read by high speed * machines to move your check from place to place (mall to bank)
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10. Bank Account Number Vocabulary
Printed on your checks and used to * route the * back to your *
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11. Withdrawals Vocabulary
Include *, making purchases with a * card, and using ATMs to get *, and *
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12. Hot Check or Bounced Check
Vocabulary
Hot Check or Bounced Check
A slang term for * written on accounts with * funds
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13. Overdrawn Vocabulary You have * more money than you * in your account
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14. Bank Statement Vocabulary
A * of all of the * on your account during the past month
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15. Introduction
* and debit card transactions are almost *, so it is very * to have the * in your account when you use them.
* – a written document ordering a financial institution to * money from your account to another account.
* Card – a plastic version of a *.
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16. Checks Vs. Cash Two reasons for using checks instead of cash:
Checks are * and *.
Cash * be * if lost or *.
Many banks offer * accounts, but some charge fees. Explore options to get the most for your *.
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17. Debit Cards Most bank accounts come with a * card.
Debit cards are * to use but it can be * to remember to * down your transactions.
* and * the receipt to record the transaction
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18. Checks
Must have your *, *, and * number printed on it or businesses will not feel comfortable taking it
Will also contain * name and information along with the check no.
NEVER have your * or * number printed on your check
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19. Checks Continued A * document and must be filled in *
Banks may * to accept a check * properly completed
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20. Steps in Writing a Check
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21. Step 1 Write the date in the upper right hand corner Use the * date
Do * write a check for a * date (called a * check)
Step 1
Step 2
Step 3
Step 4
Step 5
Step 6
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22. Step 2
Write the name of the * or company * your check on the line that starts with “Pay to the Order of” or “Payable to.”
This person or company is called the “*.”
Step 1
Step 2
Step 3
Step 4
Step 5
Step 6
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23. Step 3
Write the * amount of the check in numbers in the small space that starts with a dollar sign ($).
Write the cents as a *
76/100
Step 1
Step 2
Step 3
Step 4
Step 5
Step 6
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24. Step 4
Write the * amount using * for whole * amounts and a * for the cents on the line ending with the word “Dollar.”
Draw a * line to fill up the remaining space on the line
Step 1
Step 2
Step 3
Step 4
Step 5
Step 6
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25. Step 5 Sign your name on the signature line at the lower right
Must * the name you placed on your * card
Step 1
Step 2
Step 3
Step 4
Step 5
Step 6
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26. Step 6 If making a *, write your * number on the line following Memo.
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27. Writing a Check
Step 7 – Write the check *, date, *, amount of the check or ATM transaction in the check *.
Step 8 – * amount of check from the balance.
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28. Step 1 Step 2 Step 3 Step 4 Step 5 Step 6 Check Routing Numbers
Bank Account Number
Check Number
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29. Depositing Money Into Your Account
Step 1 – Write today’s date.
Step 2 – Write down any * deposited by the word “Currency.”
Step 3 – Write down any * deposited by the word “Coin.”
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30. Depositing Money Into Your Account
Step 4 - Write checks down *.
Step 5 – * deposits and write in space marked “*.”
Step 6 – Write down cash * following the words “Less Cash *.”
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31. Depositing Money Into Your Account
Step 7 – * cash received from * and write that amount after “* Deposit.”
Step 8 – If * cash, sign your * on the line below the date.
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32. Managing Your Account
Key to managing your account – write down every *, *, and * charged to your account!
If you * to accurately track your account, you may find that your account is “*” or that you have “* funds.”
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33. Managing Your Account
You may be charged * fees for writing an insufficient or “*” check.
You can be * or put in * for careless or criminal behavior for writing * checks.
“* protection” is available, but it will * you.
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34. Maintaining an. record of your transactions is the only way to
Maintaining an * record of your transactions is the only way to * yourself from costly * with your bank account.
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35. Reconciling Your Statement
Bank statement – a * of all account transactions in the past *.
* your statement - * your records to the bank’s records Allows you to check for * in recordkeeping – both yours and the Bank’s!
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36. Reconciling Your Statement
Steps to reconciling your statement:
Step 1 – Record * in your check register.
Step 2 – * any bank charges.
Step 3 – Find the * balance on your * and * deposits not included on your statement.
Step 4 – * withdrawals not included on your statement.
Amount remaining is your * account balance.
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37. Reconciling Your Statement
The * of reconciling your account on a regular basis far * the time it takes to do so.
If you are having problems reconciling your statement, you can go to your * and ask someone there to * you.
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38. Earnings Managing your accounts will help you to: Build financial *.
* spending money on * fees by practicing good * management skills.
Keep * records to avoid * and hot check charges.
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39. Review What is a deposit slip used for?
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40. Review When should you “reconcile” your account?
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41. Review What kind of information is included in your check register?
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42. Review What is the memo line on your check used for?
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43. Review Is it okay to write a “hot check?”
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44. Paid in Full
Do you suppose Alexis forgot to reconcile her account this month?
 If you said, “Yes,” you are correct! She had used her ATM card too many times without writing down the amount, and she had no money left in her account.
Do not let that happen to you!
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