PPT-Managing Your Money with a Checking Account

Information taken from financeintheclassroomorg Why Do You Want a Checking Account Money is kept safe A record is kept of what you spend and what you earn You gain interest on the money you put in the bank. Personal Finance. Objectives. To be able to write a check. To record a check and a debit in a checking . account register. Do Now:. What is the difference between a checking and a savings account?. When Shopping for a Checking Account look for:. Let’s look at some of the services offered by banks…. Savings Account. : Pays interest, has no maturity date, and from which funds can be withdrawn at any time without penalty.. Checking Account. Personal Finance. Objectives. To be able to write a check. To record a check and a debit in a checking . account register. Do Now:. What is the difference between a checking and a savings account?. When Shopping for a Checking Account look for:. The most widely used service that a bank offers. .. Money. on demand!. Benefits of a checking account. Convenience. Safety to make payments with less risk than using cash.. Proof of payment. A record of finances for managing your money.. Check. A check is a written, dated and signed . slip of paper . that contains an unconditional order from the drawer that directs a bank to pay a definite sum of money to a payee. . The . money is drawn from a banking account, also known as a checking account.. Learning Activity 4. 4-. 1. Dishonored Checks (1 of 2). Consequences. Service charge. Bad credit rating. Mandatory counseling. Added to dishonored check list. Suspension of check cashing privileges. Reprimand. Credit Unions and Banks. For-profit companies owned by shareholders. Not-for-profit institutions owned and controlled by their own customers, who are known as members. Managed by a paid board of directors elected by the bank’s shareholders. Checking Accounts. Checking account-. an. . account where the holder can write checks; draw less interest. Withdrawal. - . amount of money taken out of an account.. Overdraft. -a check is written for more money than is currently in the account. If the bank refuses to cask the check, it’s said to have bounced. Learning Activity . 5. 5-. 1. Dishonored Checks (1 of 2). Consequences. Service charge. Bad credit rating. Mandatory counseling. Added to dishonored check list. Suspension of check cashing privileges. Banks Help You Move Your Money. 7.1 How Banks Work. Bell Ringer-1. Why do we have banks?. What do banks do?. Who uses and benefits from banks?. Why not just keep your money in your mattress/shoe box? . 01/15 MECU OF BALTIMORE, INC.7 East Redwood StreetBaltimore, MD 2120224/7 AccessTelephone Teller: 410-727-6540Online Banking: MECU.comLending Center: 800-373-2914 Checking or Money MarketPress 1Depo consumerx00660069nancegov1 of 3CONSUMER GUIDE TO Managing your checking accountTo be successful with your checking account you x00660069rst need to choose an appropriate product to meet your needs The Using Financial Services. Your logo here. Presented by:. Financial Services In the U.S.. Why Use Financial Services?. You may not feel safe carrying money around . Y. ou may be concerned about the safety of your money wherever it is located. Educator, 4-H. OSU Extension, Seneca County. Basic Banking Video. Discussion Questions. What are some ways in which you save money?. Where do you keep this money?. Do any of you currently have a bank account? .