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:
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?