Lesson Objectives
- Develop a filing system for keeping financial records, both paper and electronic.
- Describe record keeping features that financial institutions provide for online account management.
- Describe how to use different payment methods and banking features.
Assignment 3.2.1
- Watch Video 2.1
- As you watch the video, record the missing words from page 55 of the Chapter 3 Textbook as they pop up on the left side of the video screen by filling in this form. (page 55) .
- Discussion Questions:
- What is the First Foundation?
- Why is it important to maintain an accurate balance of your checking account?
- Should a checking account be used as a saving or spending account?
Assignment 3.2.2
- Make a copy of this Google Document and rename it to Balance Checkbook-(Your Initials). Utilize your textbook to complete it. Assume you received your bank statement in the mail, and now you need to balance your checkbook. The account register is the record of your checking account.
- Use the bank statement to balance your account.
- Read the statement and make sure all transactions (deposits, withdrawals, transfers, electronic bill payments and checks) are written in your account register. Put a mark next to each one. Add any missing transactions and fix incorrect ones.
- Record any bank fees in the debit column of your account register.
- After you have fixed your account register, use the form in the document to see if your checkbook is balanced. The ending balance should match your account register.
- Make a copy of this document, rename it Types of Expenses-(Your Initials), and move it into your Chapter 3 folder.
- Complete the graphic organizer by identifying and describing the four types of expenses. Provide at least one example of each type of expense. Utilize information on page 60 of your Chapter 3 Textbook.
Assignment 3.2.3
- In your Personal Finance Journal-C3 file in your Chapter 3 folder, complete the next row in the table by answering the question listed.