Why is it important to know how to manage your money?
To make sure your money is safe, to make sure that you have enough money for the things you need.
You have a job and your paycheck is deposited to your bank account. Is this a deposit or withdrawal?
Deposit
You received money for a birthday gift. You put it into your bank account. Is this a withdrawal or deposit?
Deposit
Who could you share your bank account # or password with?
No One
The current amount of money in you bank account is the _____________?
Balance
You pay your utility bill online. Is this a deposit or withdrawal?
Withdrawal
Name the type of account where you deposit your money that you don't need right away, but want to have it in the future.
Savings
When money is taken out of your account it is called a w________________?
Withdrawal
You write a check to pay your rent. Is this a deposit or withdrawal?
Withdrawal
Why is it important to know the balance in your bank account?
So that you can make decisions about how to spend and save money. If you spend more than is in your account there are consequences such as extra fees.
A plan for how to save and spend your money is called a ________?
Budget
You take money out of your bank account to put in your wallet to buy lunch. Is this a withdrawal or deposit?
Withdrawal
When money is put in to your account it is called a d____________?
Deposit