PowerPoint Presentation

Creative Living pg. 311Write the answers on the back of the worksheet on the middle tableGet a pair of scissorsMaking payments:

*Writing a check*using a debit card*balancing a check registerThe CheckbookContains:ChecksDeposit slips

Writing Checks

When writing a Check:Your telling your financial institution to take a certain amount of money out of your account.You should be careful to write checks correctly to avoid costly and embarrassing mistakes.A blank check has a space for quite a bit of information. When you write a check, you will want to fill in each of the spaces correctly.Tips for writing a check:Always use ink.Date the check the day it is written, even if its Sunday or a holiday.Do not postdate a check, financial institutions will not cash a check before the date that is written on the check. Most businesses will not accept a postdated check as payment.Who is the check for?In the blank after the words Pay to the order of write the name of the payee.Spell it correctly, and do not use any abbreviations that may cause confusion.

Write a check to the person beside youHow much is the check for?Record the amount of money to be paid clearly in the space after the dollar sign. Never leave a space between the dollar sign and the numerals (this may allow someone to alter the amount).Write the check in the amount of $1729.32

Write amount in wordsOn the next line, write out the amount of dollars in words. Then write the word and, followed by the number of cents written as a fraction of 100.Start with writing at the extreme left of the blank. Fill in any leftover space with a line.

Write yourself a noteMost checks have the word for or memo and a blank in the lower left-hand corner.You do not need to fill in this blank, but doing so will help you keep clearer records.When you write a check for a purchase, make a note of what you have bought.

Sign It!Finally, there is a blank for your signature. Always use the same signature you filed with your financial institution. Be sure you have written the name of the payee and the amount to be paid before you sign the check.

Dont forgetImmediately after writing a check, make a note of it in your check stub or in your register.Write the check number, the date, the payee, and the amount in your register.This is necessary for complete and accurate records.never cross out or change a check once it has been writtenIf you make a mistake, print VOID across the incorrect check and write a new check

Electronic BankingATM transactions

Debit card transactions

Electronic bill pay

Debit CardA debit card lets you:Be careful! Deposit and withdraw moneyMake purchases at retail locations

The money is immediately taken out of your account

Electronic Bill Pay

Automatically pays your bills from your account No postage No late payments

Also pay bills online

Add Money to Your Checking AccountCash or check deposit using the teller service

ATM deposit

Deposit by mail

Direct deposit

Image changedSign the Back of the Check

Deposit Slip- label the parts3/22/20XX

Deposit your paycheck for 789.52You want $100 in cashAdd this transaction to your registerATM DepositsLike an ATM withdrawal

Use the special deposit envelope

Take the receipt

Image altered Direct DepositDirectly into your checking account

Your money is available immediately

Bad or NSF Check

A check you write when there isnt enough money in your checking account to cover itAlso called a bounced check

Consequences of Writing Bad ChecksBad check fees

Negative activity reported

Bank closes your account

Civil and/or criminal prosecution

Merchants may not accept your checks

Your credit may be impacted

Write these on the back of your worksheet

Write the checks and Fill in your check register