Working With Checking and Savings Accounts - The Homer Fund

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Personal Financial Skills Realizing Your Financial Goals Whether you want to buy a home, start a business or pay off your debt, personal financial skills are the first step to taking control of your financial future. The Personal Financial Skills workbook series will help you learn the necessary skills to maintain a family spending plan, use checking and savings accounts, build or repair your credit history, and apply for a loan. Regardless of your age, occupation or financial management experience, you will find useful skills and tips throughout this self-study material. Enjoy! 2 The Fannie Mae Foundation creates affordable homeownership and housing opportunities through innovative partnerships and initiatives that build healthy, vibrant communities across the United States. The Foundation is specially committed to improving the quality of life for the people of its hometown, Washington, DC, and to enhancing the livability of the city’s neighborhoods. The Home Depot is the largest retailer in the home improvement industry. Our goal is to provide the highest level of customer service, the broadest selection of products and the most competitive prices. We are a values-driven company and our eight (8) core values include the following: Excellent customer service • Taking care of our people • Giving back • Doing the "right" thing • Creating shareholder value • Respect for all people /Entrepreneurial spirit • Building strong relationships. Consumer Credit Counseling Service empowers people to enjoy a lifetime of economic freedom. CCCS educates all segments of society in the wise use of credit and provides an impartial forum for resolving debt problems. Named Agency of the Year for 1999 and 2000 by the National Foundation for Credit Counseling, CCCS Atlanta is the nation's premier debt-management service organization, characterized by excellence, integrity and technological innovation.
Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2 Workbook objectives . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 Checking and savings accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4 Benefits of checking and savings accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6 Opening an account . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7 Account application denials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8 Making a deposit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10 Endorsing a check . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11 Writing a check . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13 Preventing forgery . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14 Using a check register . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 Reading your account statement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .17 Balancing your checkbook . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18 Saving with direct deposit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .23 Using an ATM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .23 Using a debit card . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .25 Managing your account . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .26 Summary points . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .28 Knowledge review . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .29 Table of Contents Answer section . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .31 Appendix A: Researching a checking or savings account . . . . . . . . . . . . . . . . . . . . . . . . . . .34 Glossary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .35 1
Page 1: Personal Financial Skills: WORKBOOK
Page 5 and 6: 2 1. When you want to purchase some
Page 7 and 8: Earning Interest A financial instit
Page 9 and 10: Opening an Account When you decide
Page 11 and 12: SELF-ASSESSMENT 2 1. To open a chec
Page 13 and 14: Endorsing a Check Endorsing a check
Page 15 and 16: Writing a Check If you have a check
Page 17 and 18: Using a Check Register A check regi
Page 19 and 20: Reading Your Account Statement At t
Page 21 and 22: Balancing Derek’s Checkbook Exerc
Page 23 and 24: Check Register Date Check # ✓ Des
Page 25 and 26: Saving with Direct Deposit Once you
Page 27 and 28: If you report your card missing:
Page 29 and 30: When you write a check, your accoun
Page 31 and 32: To review the concepts discussed in
Page 33 and 34: Using Keisha’s Check Register Exe
Page 35 and 36: 4. Write the following checks: Your
Page 37 and 38: Account statement - This is a recor
Page 39 and 40: Federal Deposit Insurance Corporati
Page 41 and 42: Stop payment - An order by a custom
Page 44: 4000 Wisconsin Avenue, NW North Tow

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