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A checking account is essential for managing, storing, and spending your money effectively. It provides a way to pay bills without using cash, offers proof of payments through checks, and allows access to funds via debit cards or ATMs. Be cautious of fees when cashing checks and using ATMs outside your bank's network. Savings accounts help set aside money for future needs and earn interest. This guide, created by Laura Gullickson, CPA, covers the basics of checking accounts, debit cards, and saving essentials.
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A checking account gives you a way to:1. manage2. store3. spendyour money
A Check gives you proof you paid someone. • It’s a bad idea to send cash in the mail – you have no proof • Many banks will charge you to cash a check if you don’t have an account with them • Some banks charge fees for checking, look for banks that don’t
You can use Checks instead of cash to pay bills.aYou can also use debit cards(Check cards)aor ATM to access your cash
A check is a promise to pay Jaycee writes a check to pay Jacob what she owes him for fixing her car. Jacob, takes the check to his bank, and they give him money. (Good Money Bank) Good Money Bank sends the check to First Kids bank (Jaycee’s bank) and asks for to be paid back. Kid’s bank takes the money out of Jaycee’s account and sends it to Jacob’s bank.
How to write a check April 25 2013 Jacob Gullickson 20 00 Twenty and 00/100 ----------------------------------- Jaycee Kircher Car repairs
What else is a Debit Card? It can also be known as an ATM card ATM stands for Automatic Teller Machine (like visiting the bank, but instead of a person (teller) there is a machine working for you. At an ATM you can get cash from your checking account – it is subtracted just like a check. Sometimes if you use an ATM that doesn’t belong to your bank – the other bank will charge you a fee to use the machine.
250.00 1103 100.00 100.00 100.00 150.00
What is Savings? Setting Aside money for future Occurrences Like What????
What do you do with Savings? Something you WANT Things you don’t Expect
Where does the money to save come from? • Extra jobs • Gifts • A plan to save • A Budget
You put $100 in a savings account, the bank pays you interest for every day they hold your money. • They pay interest of 3.65% • Then the bank loans, that $100 to a different customer at a higher rate.
