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Sponsored by: Sheryl Hogle, HarborLight Credit Union &
Pam Swope, FinancialEdge Community Credit Union
Contact Information: shogle@harborlightcu.org; 877-894-5557 ext. 240
Source: Federal Reserve
Age or Grade: Middle School through High School
• Interchangeable activities and elements can be added to address desired age group
Subject Matter: Checking Accounts
• Explanation of checks and their purpose
• Commonalities of all checks—what all checks include
• Advantages of checking accounts
• How to write a check correctly
• Consequences to bouncing checks
• Balancing a checkbook/ check register
Length of Presentation: 45—120 minutes
• Designed to be divided into 2 lessons, but could be shortened to one lesson, if needed.
Presentation Detail
- Pass out a copy of the check register and 2 pages of the sample blank checks (check #’s 1101-1106) per student. If possible, transfer copy of each to transparency and use with overhead projector.
- Explain what a check is and then have the students respond to what all checks have in common. Explain the importance of using “today’s date", having funds in the account before you write a check, etc.
- Using the sample transaction sheet—this particular transaction sheet is geared for sixth grade, so you may need to revise for the age group you are presenting to. Go through the transactions and have students practice writing checks and recording transactions in the check register. Students will need pens and, perhaps, calculators. With the transaction sheet, cut each transaction into individual transactions. Then you could have students choose a transaction & in the order of the transactions, have them read it aloud. If the transaction calls for a check to be written, the students each write a check from their checks. Each student records all transactions in their individual register. If you do it that way, you will want to have your own answer key to verify the each addition and subtraction.
- Using the illustration of bouncing a basketball, explain that bouncing a check is not acceptable and has major consequences to it.
OTHER IDEAS:
- After illustrating the proper way to write & record checks, give students the What Do You Know quiz.
- Illustrate how to reconcile a checkbook balance with a credit union/bank statement. (used as the 2nd lesson)
- With older students, explain direct deposit & online banking and how that aids in better money management/record keeping. You could also explain Check 21 to older students.
- To emphasize the subject matter, use the word or illustration of “check”. For example, pass out snack size Chex (checks) Mix, or have an award or drawing for a Nike (with the check logo) water bottle, etc., or when someone answers a question correctly, respond by saying “check”, instead of “correct”.
Grade Level Michigan Educational Standards & Benchmarks Supported
Grade Level Michigan Educational Standards & Benchmarks Supported
Mathematics (Michigan Grade Level Content Expectations v.12.05)
Strand I Number & Operations
Grade 2 Record, Add and Subtract Money
M.UN.02.07 Read and write amounts of money using decimal notations
M.PS.02.08 Add and subtract money in mixed units.
Grade 4 Add and subtract whole numbers
N.FL.04.08 Add and subtract whole numbers fluently
Read, interpret and compare decimal fractions
N.ME.04.15 Read and interpret decimals up to two decimal places; relate to money
Add and subtract decimal fractions
N.FL.04.32 Add and subtract decimals through hundredths
Grade 6 Solve decimal, percentage and rational number problems
N.MR.06.13 Solve contextual problems involving percentages such as sales taxes and tips.
N.FL.06.15 Solve applied problems that use the four operations with appropriate decimal numbers.
Social Studies (Michigan GLCE v12/07)
Economics
Grade 2 Market Economy
2 – E1.0.1 Identify the opportunity cost involved in a consumer decision
Grade 4 Market Economy
4 – E1.0.03 Describe how positive and negative incentives influence behavior in a market economy.
4 – E1.0.07 Demonstrate the circular flow model by engaging in a market simulation, which includes households and businesses and depicts the interactions among them.
Grade 6 Market Economy E1
E.1.1 Individual, Business, and Government Choices
6 – E1.1.1 Explain how incentives vary in different economic systems (e.g. acquiring money, profit, goods, etc.)
Grade 7 Market Economy E1
E.1.1 Individual, business, and Government Choices
7 – E1.1.1 Explain the role of incentive in different economic systems (acquiring money, profit, goods, etc.)
High School Content Expectations (v. 10/07)
Social Studies
Economics E2 The National Economy of the United States Of America
2.1 Understanding National Markets
2.1.1 Income – Describe how individuals and businesses earn income by selling productive resources.
2.1.3 Financial Institutions and Money Supply – Analyze how decisions by the Federal Reserve and actions by financial institutions regarding
deposits and loans, impact the expansion and contraction of the money supply.
Economics E4 Personal Finance
4.1 Decision Making
4.1.2 Marginal Benefit and Cost – Use examples and case studies to explain and evaluate the impact of marginal benefit and marginal cost of an activity on choices and decisions.
4.1.3 Personal Finance Strategy – Develop a personal finance strategy for earning, spending, saving and investing resources.
4.1.4 Key components of Personal Finance – Evaluate key components of personal finance including money management, saving and investment, spending and credit, income, mortgages, retirement, investing, and insurance.
4.1.5 Personal Decisions – Use a decision-making model to evaluate the different aspects of personal finance including careers, savings and investing tools, and different forms of income generation.
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