Lesson Plan

 

  

Managing a Checking Account
Marcia Bettger

Student Characteristics and Level: The students are 3.5 to 6.9 reading or mathematics ABE students who are a part of a lab setting which is conducted on an individualized basis. Students will be a part of this lesson throughout the day. Many of the students are younger students who do not have experience with checking and savings accounts.

1)    Instructional Goals - To have students manage a bank account. The students will..

      a)     Understand the differences between saving and checking accounts.
b)   
Open a checking or savings account.
c)    Make deposits into a checking account.
d)    Write checks

c)   
Read and understand a bank ledger to manage their account.
d)   
 Interpret forms associated with banking services, including checks, deposit slips and bank statements.
e)   
Evaluate ledgers and bank statements to determine outstanding checks and actual balance. 

2)    Competency/Objectives - Students will..

i)     Fill in a Venn diagram showing the differences between saving and checking accounts.

ii)    Students will be able to successfully fill in a scavenger hunt worksheet while exploring a banking website designed to teach about bank accounts.

iii)   The students will open a mock bank account by role playing with teacher or student and filling out bank forms associated with opening a bank account.

iv)    The student will fill out 5 deposit slips that will include both checks and cash.

v)    The students will write 10 checks for utility, rent, and other bills.  In addition students will write checks for store bought items.

vi)   The student will fill out ledger by entering both deposits and bank withdrawals.

vii) The student will identify parts of banking forms using a match quiz (?). 

viii)         The students will evaluate ledgers and bank statements to determine both outstanding checks and actual balance by listing checks that have not cleared and stating in writing the amount of money that is left over after deposits and withdrawals.

3)    Rationale

a)    Students often do not understand how to use a bank to conduct their day-to-day transactions as well as track their spending.  In addition, the CASAS test, our assessment, assesses the students in terms and skills associated with bank accounts, including making deposits, writing checks, paying bills and managing a bank ledger.  Especially amongst under 21 students this lack of knowledge and skill has been a disadvantage, and as a result, has reflected a less than accurate math and reading scores. Most importantly, understanding and managing a checking or savings account will help them cope with their new responsibilities.  This lesson will also incorporate math and reading skills important to everyday life.

4)    Content and Materials

a)    A KWL discussion about what they already know and what they want to know.

b)    A brief printed article on saving and checking accounts

c)    A Venn diagram 

d)    A work book packet that guides each student through a life-like banking transaction scenario. 

e)    Students will do a quick web activity work sheet with the following website: http://www.practicalmoneyskills.com/english/resources/tutor/statements/

f)       Mock deposit slips, checkbook, ledger, and bank statement.

g)    A final quiz that reviews parts of banking forms.

5)    Instructional Procedures

a)    Using a KWL chart, students will identify what they already know about checking and saving accounts.

b)    Using the same KWL chart they will identify what they would like to learn.

c)    Students will discuss new bank vocabulary. 

d)    Students will read a brief printed article on savings and checking accounts.

e)    Students will fill out the Venn diagram and identify the similarities and differences between savings and checking accounts.

f)       Students will search a brief web quest on the computer.  Students will identify important terms in a scavenger hunt worksheet.

g)    The student will open up a mock bank account with teacher or other student.

h)    The student will complete a packet that guides them through a checking account scenario. They will use deposit slips, checks, and a bank statement to come up with the correct balance. 

i)        The students will identify parts of banking forms as a final assessment.

j)        Students will complete their KWL chart by listing what they have learned from the packet and evaluate how many ways checking and saving accounts can help them financially.

6)    Learning Assessment: 

a)    Students will be able to come up with the correct balance.

b)    Students will be able to identify by matching the correct parts of the deposit slip, check, and bank statement.

c)    Students will be able to describe what they have learned from the activity.

7)    Group Activities (the nature of our lab setting puts limitations on some group activities since students are rarely working on the same thing as once)

a)    Students will role play opening a bank account with teacher or student.

b)    Student will discuss activity with teacher.

8)    Alternative Plans

a)    Students who need help will be assisted as needed.

b)    Students could be read to or use calculators.

c)    The independent course could be conducted in smalls groups.

d)    Students could take a field trip to a bank.  

 

Support Materials

The KWL process

What I KNOW about checking and saving accounts

What I want to learn about checking and Saving Accounts.

What I Learned about checking and saving accounts.

 

 

 

 
 

Name __________________________

Subject: ABE Math and Reading

 

Teacher: Bettger

Date: _________________

 

 

Banks

 

Checking accounts

 

 

Saving Accounts

 

 

Name_________________________________

 Ask your teacher to use the computer.  Enter the following link or have your teacher help you. http://www.practicalmoneyskills.com/english/resources/tutor/statements/

 Click on the links on this page and find the following items. Check them off as you identify them. Click continue after you find the following terms.  We are not covering credit statements, so you can stop there.

 ______Currency

______Coins

______Total from other side

______Less cash received

______Net Deposit

______Payee

______Amount of check in words

______Memo

______Identification number

______Bank endorsement

______Restrictive endorsement

______Special Endorsement

______starting balance

______Recording a check

______Statement Period

______Account number

______Account summary

______Checks and other debits

______Details check list

______Withdrawal list

______Deposits and other credits

 Teacher will assemble a mock check book.  Students will have a check register as well as a check book.  The following websites have printable resources to assemble a mock checkbook.

 Deposit Slips (Scroll down to page 14) then just print that page.  All other printable deposit slips actually cost money. 

 http://www.cuna.org/download/youth_sharedraft.pdf

 Blank Checks

http://www.activitiesforkids.com/math/checks.htm

 heck Register

http://www.burbank.com/math/transactions.pdf


Checking Account Packet

 

 

            You open a bank account with A-1 Bank. You have 189.00 to deposit. You are given a check book which includes a check register, checks, and deposit slips.

May 2, 2007

            You just received your first pay check.  You are paid weekly.  Your first check is $355.79.  You fill out a deposit slip for $355.79.  You need to put gas in your tank on the way home, so you want $25.  Fill out the deposit slip, and enter the correct amount in the check register.

May 3, 2007

            Your automobile insurance is due.  The bill is for $98.55.  You need to write a check for it.  Write a check and subtract from the ledger this amount. 

            Youíre out of food. It is time to go to the grocery store.  You need milk, eggs, cheese, a six pack of mountain dew, peanut butter, and bread.  After a few extras, like a candy bar and some shampoo, you pay 49.38 at Willyís Grocery Store.  You subtract that amount from your ledger.

May 4, 2007

            Yesterday was your little sisterís birthday, and you forgot again.  You write a check for $20.00 and buy her a birthday card.  The birthday card was $3.26 with tax.  You purchased it at Willyís Grocery Store. You deduct both of these checks from your checking account.

 

May 6, 2007

            Your friend at work, Bill, finally paid you back for helping him out with lunch and gas a month ago.  He owed you $66.75. He paid you in cash.  So you fill out a deposit slip and deposit it in your new checking account.  You add this to your bank ledger.

May 8, 2007

            You receive your second paycheck. You worked fewer hours, so it is only 315.93 this time.  You fill out a deposit slip and add this amount to your ledger.

            Your rent is over due.  You finally have enough money to pay rent and your landlord is not happy with you.  You march down to his office and pay her $575.00 and the $20.00 late fee with a check.  You deduct this amount from you pay check.

 May 9, 2007

            Your car is on empty and you also need a quart of oil.  On your way to work you run over to Spunkyís Gas Station.  Although Spunkyís is the cheapest gas station in town, you need at least a full tank to get through until your next pay check.  So you fill your tank and write a check for $36.78. 

 May 12, 2007

            You have been eating peanut butter sandwiches all week.  You like peanut butter, but youíre not exactly a vegetarian.  You run over to Willyís Grocery store and buy a pound of ground beef, some hamburger buns and a tube of toothpaste.  The total price is $7.68. 

 May 13, 2007

            You get your utility bill for 88.79.  It is not due until after your next pay check.  You put it on your refrigerator so you wonít forget it.  If you paid it now, you might have an overdraft.  You buy some more milk and eggs at Willyís Grocery Store.  The total is $5.67.  You write a check for that amount and 5 dollars over to pay for minor expenses until you get paid again. 

May 14, 2007

            Pay day is here again!  Your pay check is 364.32.  You are so tired of peanut butter, you go out for dinner.  You go out to Blue Bonnet Steakhouse.  You order a juicy sirloin, a baked potato, and a tall glass of mountain dew.  Your waiter was very helpful and brought you extra sour cream and a refill of soda.  You tip him $4.00.  The total restaurant bill was $21.92 plus the tip. 

 May 16, 2007

            Itís your day off.  Time to pay the utility bill you received May 13th.  You write the check and deduct that amount from your check ledger.  Itís also time to go to the grocery store again.  This time you buy some frozen pizzas, salad, two cases of mountain dew, hair gel, a gallon of ice cream, some grapes, cherries, and laundry soap, in addition to a bunch of other stuff.  When youíre done, your total is $69.54.  You also need quarters for laundry. So you write your check for $10.00 dollars over. 

 May 19, 2007

            You were talking to your mom the other day about being tired of eating peanut butter.  Your mom sends you a check for 25.00.  You rush to the bank to deposit it.  You get 10 dollars back and call her right away to thank her.  You get a bill for your cell phone.  You went over a little bit.  The bill was $103.25. You pay the bill right away with a check. 

 May 20, 2007

            Your bank statement comes.  You check to see what checks have cleared the bank. And also check your math.  Put a check mark beside the checks that have cleared.  Then answer the following worksheet.

What is your final balance?___________________________________________

Which checks are still outstanding?____________________________________

________________________________________________________________

 

Text Box: Joe Cool                                                                                                                      123
1019 East 12th Street                                                               5 Date___________
Centennial, Colorado 80000                                                               
 
4 Pay to the order of__________________________________________
 
2___________________________________________________________Dollars
__________________                                          ___________________________                               Signa 1234567  123  3
 

 

 

 

 

 

 

 

  1. Payee                                                 _____

B.  Amount of check in words             _____

      C.  Memo                                     _____

      D.   Identification number                     _____

      E.   Check number                                _____

 

 

 

 

 

 

 


 

 

 

 

 

 

 

 

 

 

 

 

 

 
 
 
 
 
 

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