Title: (Optional) Manage an account in a financial institution.
Course: Family and Consumer Sciences Exploratory III (19251-6) > Section: Maximizing Consumer and Family Resources

Management should include

- understanding basic terms (e.g., deposit, withdrawal, credit, debit)
- reading a bank statement
- calculating interest
- reconciling a bank account (e.g., balancing a checkbook).

Teacher Resources:

- Banzai
- S. Economic Empowerment Project
- Vault: Understanding Money, Everfi from Blackbaud
- Virginia Council on Economic Education

Process/Skill Questions:

Thinking

- What does it mean to reconcile an account? Why is reconciliation important for record keeping?
- What are the advantages of direct deposit?

Communication

- How do you reconcile a bank statement?
- Why should you contact the financial institution when you detect a discrepancy in the account?

Leadership

- What are the consequences of writing a check without having sufficient funds?
- What personal qualities help successfully manage a financial account?

Management

- How can devices assist with account management?
- How do you interpret a bank statement?