Checking Unit

Students will be able to

• Explain what a checking account is used for 
• Understand the variety of ways they can deposit and withdraw funds from their checking account 
• Explain the pros and cons of opening a checking account at a credit union
• Understand what the various components of a bank statement mean to interpret where their money goes

Students will be able to

• Explain the difference between a checking and savings account
• Compare different savings vehicles such as a savings account, CD, and money market account
• Identify important criteria to consider when selecting a savings account

Students will be able to

• Identify common checking and saving account fees and how to avoid them
• Explain how overdraft protection works and the impact of overdraft fees
• Compare overdraft policies at major US banks

Students will be able to

• Explain who is typically unbanked and the reasons that they are unbanked
• Compare payroll and prepaid cards to debit and credit cards
• Explore where the unbanked typically live
• Detail the consequences of being unbanked

Students will be able to

• Identify various rules of thumb and strategies to save money
• Brainstorm short, medium and long-term savings goals
• Explain what an emergency fund is for and how much to save up

Students will be able to

• Identify everyday obstacles Americans experience when trying to save money
• Recognize the impact of inflation on savings
• Experience simulated challenges of living paycheck to paycheck
• Understand why it is important to maintain an emergency fund

Students will be able to

• List the advantages of online and mobile banking versus traditional banking
• Explain what online bill pay is and how recurring payments work
• Enumerate the benefits of direct deposit for their paychecks
• Compare and contrast various peer-to-peer payment apps
• Explain how to bank safely online
• Explore the pros and cons of a cashless society

Students will be able to

• Review account transactions
• Identify fees charged to your account
• Set up recurring online bill pay
• Transfer funds between two bank accounts

Students will be able to

• Explain what a checking account is used for 
• Understand the variety of ways they can deposit and withdraw funds from their checking account 
• Describe the consequences of not being in the banking system 
• Read a bank statement
• Understand what the various components of a bank statement mean to interpret where their money goes

Students will be able to

• Identify common checking account fees and how to avoid them
• Explain how overdraft protection works and the impact of overdraft fees
• Read a Checking Account Summary
• Compare overdraft policies at major US banks

Students will be able to

• Analyze the prevalence of online and mobile banking as compared to more analog banking options
• Set up online bill pay as one-time and recurring payments
• Enumerate the benefits of direct deposit for their paychecks
• Navigate an online bank account

Students will be able to

• Differentiate between person-to-person apps, messenger-based payments, and digital wallets
• Assess the adoption rates and conveniences of various mobile banking products
• Identify ways they can protect their money in a digital world

In this lesson, students will be able to:

• Explain what a checking account is used for and why it is important to have one
• Understand the variety of ways they can deposit and withdraw funds from their checking account
• Describe the consequences of not being in the banking system
• Understand various options for payment (cash, check, debit, person-to-person, prepaid card) and determine when to use each type

In this lesson, students will be able to:

• Learn some tips for using their checking account effectively, including the use of mobile alerts
• Read a checking account agreement and identify the fees associated with a checking account
• Understand how overdraft protection works and how to avoid high fees attached to the service
• Read a bank statement to verify its accuracy and interpret how their money is being used

In this lesson, students will be able to:

• Conduct various banking activities, such as write a check, use an ATM, make a purchase with a debit card, make a deposit, and pay bills
• Learn how to complete a check register and why it’s important for understanding your cash flows
• Understand how to balance and reconcile their checkbook and how doing so helps protect their money

In this lesson, students will be able to:

• Appreciate the range of online and mobile banking  services available to help manage and fully utilize their checking account
• Explain what direct deposit is, how they sign up for it, and why it could be beneficial
• Learn how to use online bill pay
• Understand the advantages and disadvantages of digital wallet payments such as Apple and Google Pay
• Identify ways they can protect their checking account when using online and mobile banking

In this lesson, students will be able to:

• Compare and contrast banks and credit unions
• Consider different features, fees, and requirements of checking accounts at various banks and choose the options that are best for them, personally
• Understand the specific “perks” and requirements of a student checking account
• Conduct online research to select a checking account
• Enumerate what paperwork is required to open a checking account