teaching your kid to balance a checkbook

They can perhaps stop these lost checks from being honored. For example, you may write a check for $10.00, but if you leave a space between the dollar sign and the amount, that check could be easily changed to $710.00 or more - and you would be giving far too much money to a cheater.Īlso, if you ever lose blank checks, call your bank immediately and let them know. This is so that cheaters cannot add an extra digit to the left, changing a small amount to a larger one. When you write the numerical amount of the check, always write the numbers as far to the left as you can.

One simple measure is to write your checks in pen (never use a pencil or erasable pen, which can easily be erased by a cheater). If someone changes the amount on your check, you will lose money. When you write a check, you have to use some saftey measures to insure that someone, somewhere doesn't change what you have written on the check for their own advantage. After you do this, you can calculate how much money you have left in your account (this is called your account balance). Most checkbooks come with a register, a small booklet that lets you keep track of the checks you have written, the amounts of money you deposit or withdraw from your checking account, and your account balance.Each time you write a check, you should also write an entry in your checkbook register, noting everything about the check, including the check number, the date, who the check was written to, and the amount of the check. You also need to keep track of deposits (money you add to the account), interest you earn from the bank, and bank fees. All this means is that you keep track of your account balance (how much money is in your checking account), and every time you write a check, you subtract that amount from the total. To do that, you balance your checkbook every time you write a check. When you write a check, you have to make sure that you have enough money in your checking account. This sample check was written by Sue Cole on January 3, 2008, for $340.22 to 'Seattle Gas Company.' The person writing the check writes the date, the name of the person or company who will get the money, the amount of the check (written both in numbers and in words), an optional comment on what the check is for, and the person's signature. Many things are pre-printed on a check, including your name and address, the check number, the bank's name, and bank code numbers. Plus, you will be charged a fee by the bank.

If you write checks that add up to more than that, the bank will not honor the check, that is, nothing will be paid to the person. For example, if you have $100.00 in your checking account, you can only write checks that add up to $100.00. You can only write checks for amounts of money that you have in your checking account (you usually also have to keep a small reserve amount in your account). When you want to buy something, you fill out a check and give it to the person you want to pay. You can then use these checks to pay other people using the money you deposited in your checking account. After you deposit some money into your checking account, the bank sells you blank checks.

To write a check, you first need to open a checking account with a bank, savings and loan, or credit union. When you pay for something using a check, you are giving the person a piece of paper that states that they can bring the piece of paper back to a bank and get the money you owe them. There are many ways to pay for things, including cash, checks, and credit cards. Learn How to Write Checks and Balance a Checkbook

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Teaching your kid to balance a checkbook