CHECKING ACCOUNTS AND WORKING WITH BANKS (part 1)

HOW TO WRITE A CHECK
Below are words associated with check.

1. Check Number:  the number of the check listed in the top right-hand corner of each check.
2. Drawer's Identity: the name and address of the owner of the account.
3. Payee: the person, business or organization to whom the check is made out.
4. Dollar Amount: the  numerical amout of money for wich the check is written.
5. Written Dollar Amount: the amount of money for which the check is written, spelled out in words.
6. Drawer's Signature: the signature of the owner of the account.
7. Memo: space to indicate the purpose for writing the check.

When writing a check it is vital that you record all the necessary information. It is important to record everyday check you write in your checkbook register. Using the information from the worksheet balance the checkbook by deducting each expenditure from the balance given. Determine how  much money will remain in the account after all expenses have been deducted.

SAVING FOR THE FUTURE
Saving accounts can be started as soon as you are born. Parents will often open a savings account early on for a child's education. Create a list of things that you might want in your immediate future. These are things for wich you could start a savinigs account. Next list the approximate ammount of money needed for that item have finished, answer the next questions.

1. Where would you open a savings account?
2. If you already have a savings account, how old were you when it was opened?
3. From what sources might you get the moeny to put in your savings account?
4. When you receive birthday money or earn money at part-time jobs, do you spend it all or do you put some of it away in a savings account? Why?
5. Do you think a savings account is something important to have? Why or why not?

Start saving money to have a big sack of money in the future.