Building: Knowledge, Security, Confidence Check It Out! All About Using and Writing Checks
What We Will Learn Today <ul><li>Today we will learn how to use checks, write checks, and record checks in our check regis...
Checking Accounts When you open a checking account at the bank, you can write checks and use a debit card to: <ul><li>Pay ...
What is a Check? <ul><li>A check is a written contract between you and your bank.  </li></ul><ul><li>When you write a chec...
Using a Checking Account is Convenient <ul><li>Gives you quick and easy access to your money </li></ul><ul><li>Lets you “d...
Better Money Management <ul><li>Keep a record of “transactions” </li></ul><ul><li>Build a positive relationship with your ...
Steps to Writing a Check Make sure you have enough money in your account! 1. Write the check 2. Record the transaction in ...
Your Checkbook <ul><li>Contains: </li></ul><ul><ul><li>Checks </li></ul></ul><ul><ul><li>A Check Register </li></ul></ul><...
How To Write A Check  http://www.moneyinstructor.com/in/inwritecheck.asp http://www.moneyinstructor.com/in/inwritecheck.asp
Sample Check 1 3 8 6 4 5 10 9 2 7 1: Today’s date 2. Payee 3. Amount in numbers 4. Amount in words 5. Reminder 6. Your sig...
Sample Checks 2/26/20XX Best Tees 19.75 Your signature shirt Nineteen and 75/100
Activity: Writing A Check Complete Activity <ul><li>Follow directions to complete this activity </li></ul>
You can also use a check to get cash out of your checking account. •  Write “CASH” or your name in the “Pay to the Order o...
Endorsing a Check DO NOT WRITE, STAMP OR SIGN BELOW THIS LINE RESERVED FOR FINANCIAL INSTITUTION USE * ENDORSE HERE
Check Writing Tips <ul><li>Write in blue or black ink.  </li></ul><ul><li>Write clearly.  </li></ul><ul><li>Remember to re...
What if you make a mistake? If you make a small mistake when writing a check, cross out the incorrect information, write y...
Your Check Register <ul><li>Use your check register to keep  </li></ul><ul><li>an accurate record of all your </li></ul><u...
http://www.moneyinstructor.com/in/incheckbook.asp How to Use a Check Register
Let’s Practice Using a Check Register
Words to Remember Payee:   The party that receives the check.   Payor:   The party that writes the check (to the payee).  ...
Checking Account Statement <ul><li>Checks you wrote </li></ul><ul><li>Withdrawals and deposits </li></ul><ul><li>Debit car...
“ Reconciling” Your Account Banks can make mistakes! You should reconcile your check register with your monthly checking a...
“ Bad” or NSF Check <ul><li>A check you write when there isn’t enough money in your checking account to cover it </li></ul...
Consequences of Writing Bad Checks <ul><li>Bad check fees </li></ul><ul><li>Bank closes your account </li></ul><ul><li>Mer...
Check It Out! <ul><li>The benefits of using a checking account </li></ul><ul><li>How to write a check </li></ul><ul><li>Ho...
Thank you! <ul><li>American Debt Counseling, Inc. </li></ul><ul><li>1 888 DEBT USA </li></ul><ul><li>www.americandebtcouns...
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    1. 1. Building: Knowledge, Security, Confidence Check It Out! All About Using and Writing Checks
    2. 2. What We Will Learn Today <ul><li>Today we will learn how to use checks, write checks, and record checks in our check registers. </li></ul>
    3. 3. Checking Accounts When you open a checking account at the bank, you can write checks and use a debit card to: <ul><li>Pay bills </li></ul><ul><li>Make purchases </li></ul>
    4. 4. What is a Check? <ul><li>A check is a written contract between you and your bank. </li></ul><ul><li>When you write a check, you are asking the bank to take money from your account and give it to someone else. </li></ul>
    5. 5. Using a Checking Account is Convenient <ul><li>Gives you quick and easy access to your money </li></ul><ul><li>Lets you “direct-deposit” payroll and other checks </li></ul><ul><li>Eliminates the need to carry a lot of cash </li></ul>
    6. 6. Better Money Management <ul><li>Keep a record of “transactions” </li></ul><ul><li>Build a positive relationship with your bank </li></ul>Having a checking account lets you:
    7. 7. Steps to Writing a Check Make sure you have enough money in your account! 1. Write the check 2. Record the transaction in your check register
    8. 8. Your Checkbook <ul><li>Contains: </li></ul><ul><ul><li>Checks </li></ul></ul><ul><ul><li>A Check Register </li></ul></ul><ul><ul><li>Deposit slips </li></ul></ul>
    9. 9. How To Write A Check http://www.moneyinstructor.com/in/inwritecheck.asp http://www.moneyinstructor.com/in/inwritecheck.asp
    10. 10. Sample Check 1 3 8 6 4 5 10 9 2 7 1: Today’s date 2. Payee 3. Amount in numbers 4. Amount in words 5. Reminder 6. Your signature 7. Your name & address 8. Check # 9. Name of your bank 10. Your checking account number
    11. 11. Sample Checks 2/26/20XX Best Tees 19.75 Your signature shirt Nineteen and 75/100
    12. 12. Activity: Writing A Check Complete Activity <ul><li>Follow directions to complete this activity </li></ul>
    13. 13. You can also use a check to get cash out of your checking account. • Write “CASH” or your name in the “Pay to the Order of” area on your check. • But, be careful! A check you write out to cash can easily be cashed by anyone! Checks Made Out to “Cash”
    14. 14. Endorsing a Check DO NOT WRITE, STAMP OR SIGN BELOW THIS LINE RESERVED FOR FINANCIAL INSTITUTION USE * ENDORSE HERE
    15. 15. Check Writing Tips <ul><li>Write in blue or black ink. </li></ul><ul><li>Write clearly. </li></ul><ul><li>Remember to record each check you write in your check register. </li></ul>
    16. 16. What if you make a mistake? If you make a small mistake when writing a check, cross out the incorrect information, write your initials above it, and then write the correct information. If you make a big mistake when writing a check, write “VOID” across the entire check, rip it up, or shred it, and throw it away. Write a new check. Remember to entire all checks – even VOIDED checks – in your check register.
    17. 17. Your Check Register <ul><li>Use your check register to keep </li></ul><ul><li>an accurate record of all your </li></ul><ul><li>checking account transactions </li></ul><ul><li>including: </li></ul><ul><ul><li>Checks & ATM transactions </li></ul></ul><ul><ul><li>Interest </li></ul></ul><ul><ul><li>Other bank charges </li></ul></ul>
    18. 18. http://www.moneyinstructor.com/in/incheckbook.asp How to Use a Check Register
    19. 19. Let’s Practice Using a Check Register
    20. 20. Words to Remember Payee:   The party that receives the check.   Payor:   The party that writes the check (to the payee).   Check Register:   A booklet that is used to keep a record of all your checking related transactions, including checks written and deposits.   Endorse a Check:   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.   Overdraft or Non-sufficient Funds:   When you write a check for more money than you have in your account .
    21. 21. Checking Account Statement <ul><li>Checks you wrote </li></ul><ul><li>Withdrawals and deposits </li></ul><ul><li>Debit card purchases </li></ul><ul><li>Bank fees </li></ul>Each month your bank will send you an account statement:
    22. 22. “ Reconciling” Your Account Banks can make mistakes! You should reconcile your check register with your monthly checking account statement each and every month to make sure your balance is correct.
    23. 23. “ Bad” or NSF Check <ul><li>A check you write when there isn’t enough money in your checking account to cover it </li></ul><ul><li>Also called a “bounced check” </li></ul>
    24. 24. Consequences of Writing Bad Checks <ul><li>Bad check fees </li></ul><ul><li>Bank closes your account </li></ul><ul><li>Merchants may not accept your checks </li></ul><ul><li>Your credit will be impacted </li></ul><ul><li>Maybe jail! </li></ul>
    25. 25. Check It Out! <ul><li>The benefits of using a checking account </li></ul><ul><li>How to write a check </li></ul><ul><li>How to use a check register </li></ul><ul><li>Why you should not write a “bad” check </li></ul>Congratulations! Today we have learned:
    26. 26. Thank you! <ul><li>American Debt Counseling, Inc. </li></ul><ul><li>1 888 DEBT USA </li></ul><ul><li>www.americandebtcounseling.org </li></ul>

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