Page 21 - FP-Sample-Flipbook

Take Action! Exercise - Using a Check Register
„ I use online bill pay to manage my
payments.
„ I will pay my bills on time.
„ I will use financial management
software to track my finances.
Tip: When there isn’t a check
number to record, write down the
method of payment instead.
®
©2017 Learnovation , LLC
All Rights Reserved.
www.learnovation.com
With so many ways to pay, it’s important to keep track of all Managing your finances is an important skill. Financial
Keeping on top of bills, making payments
your checking account transactions so your know exactly what Literacy
you have to work with. Record the following transactions in the on time, and managing your money and
check register below: investments are good habits to make. With No. 6
today’s technology, you have many options
Beginning balance is $800.22
9/1 – Direct deposit of paycheck $1,200. for making payments, tracking receipts,
9/1 – Paid the rent $675– Goodman Rentals, ,check # 22593 and watching your bank accounts grow.
9/2 – Mark’s Groceries $18.30 – debit card Online banking and bill pay are standard practices for many people. You can
have instant access to your checking account online or from your cell phone.
9/4 – Star Cleaners – dry cleaning $13.48 debit card You can receive text updates about your account balance, and be notified
©2017 Learnovation®, LLC
9/4 – Asian Star – dining out, $25.70 debit card automatically when a check has cleared the bank. You also have the option to
9/8 – Wilson Sewer – auto pay $26 make deposits, withdrawals, and fund transfers from your own computer.
9/8 – VA Phone Services – cell phone – auto pay $45.22 Having the technology to access your finances doesn’t help you learn to
9/15 – e-check Carson Energy - $58.70 – Confirmation # manage them. Putting together a budget and tracking your expenses are
25039388, $3.50 pay by phone fee critical skills to learn. When you can identify the things you need from the
For Evaluation Only
9/16 – Check #22594 Joe Terrill – tire repair - $45.50 things you want, and have the ability to save your money vs. impulse buy, you
are on your way to becoming a good manager of your own finances. Paying My Bills
Receiving the Bill
How do you want your bills to arrive? You can choose to receive bills by mail,
online to your e-mail, or even your cell phone. Many providers will keep your
checking account or credit card information on file, and let you schedule
payments automatically. You can also sign up for secure bill pay services that
will track your bills and send you a notice when they are ready to be picked up
and paid.
Money Matters
8 35% of your credit score is made up of payment history.
Disclaimer:
Learnovation, LLC’s mission is to empower people to 8 Pay your bills on time. Late payments add up to extra fees and points off
improve awareness of their own financial situation.
This information is intended to serve as a general your credit score!
guide of financial principles and strategies. It is not 8 57% less paper checks are written today than just 5 years ago
intended to address individual financial issues, nor
should it be taken as legal, financial, or other advice. 8 Statistics show that only 40% of households use a budget to manage
finances.