Students will demonstrate the ability to write a check in order to make a purchase. Students will demonstrate the ability to fill out a transaction record, adding deposits, and subtracting checks to calculate a new balance. Students will be able to explain that transaction money is money used to make purchases and pay bills, and may be in the form of currency and coins, or in the form of checks written on a bank account. Scrip money to be used for initial deposit. Items for the students to purchase using their checking account.
Teacher explains that transaction money is money used to make purchases and to pay bills.
Transaction money includes both currency and checking accounts. Money in checking accounts makes up about half of all transaction money in use. Teacher explains the importance of keeping an accurate transaction register so that the students will always know how much money they have in their checking account. Teacher provides students with scrip money to be used for depositing in the students' checking accounts. The teacher asks the students to show them an ID, prior to opening an account.