1. Teen Living Review Objective 10.03

2. Expense Expense = anything a person spends money on Rent/house payment
Car
Clothes
Food
Entertainment
Medicine

3. Financial Budget
A financial budget is a plan for spending and saving money

4. Food Budget Includes all food consumed by a family
That includes the cost of food purchased at a grocery store and consumed at home and food consumed away from home (eating out)

5. Receipt
A printed or written record of a purchase

6. Register
Booklet that comes with checks to record each check amount, date, check number, and the person receiving the check
Record the amount of each check in the register immediately

7. Reconciling
Reconciling a bank statement means making sure that your check register matches your bank statement

8. Outstanding
A check that you have written, but has not shown up on your bank statement yet
(the check may or may not have been cashed)

9. Endorsing
After receiving a check, you need to sign the back before you can cash or deposit the check into your bank account

10. Depositing Checks Sign the back of all checks to be deposited
List and total the checks/cash to be deposited
Take them to the bank teller or ATM

11. Using your Parents Credit Card Wisely
Credit cards should be used in an emergency