DIY Homeschooler

Some may say it is an old, technologically-outdated activity — after all, most people can or do bank online. But if your child does not understand how checkbook balancing works, he is at the mercy of his bank!

Children may have a hard time understanding the concept of a bank or a checking account. Deborah Carroll offers this suggestion:

“The next time you give an allowance, set aside that amount in a container that serves as a bank. Write the amount on a piece of paper. Let your child keep the paper, and when he needs the money, he can trade in the paper for that amount, which is waiting in the bank. Your child will see that the money in the bank is no longer there after the check is presented, but that the paper sill exists. The paper is just not worth anything after the money is taken from the account.”

Christine M. Field, Life Skills for Kids (Quoting Deborah Carroll, Teaching Your Children Life Skills)

Balancing a checkbook is also part of the process of teaching our children how banking works. They should understand how to:

• Write checks.
• Endorse a check.
• Keep a check register.
• Balance an account when they receive a bank statement.

Here are five steps to balancing a checkbook: (some of these resources require Flash)

1. Start with the basic process.
   Checks and Checkbooks is an Enchanted Learning page that provides a nice overview. (The printables that follow are for subscribers only. But don’t worry — we’ve rounded up printables for you!)
2. Become familiar with the forms.
   Learn how to fill out and/or read:
   • Deposit slips.
   • Checks.
   • Registers.
   • Bank statements.
3. Write a Check.
   Use this Mint.org interactive (archived) to learn how to write a check.
4. Balance your checking account.
   This free download walks you through the process of balancing your checking account.
5. Practice!
   Provide your child with his own checks, deposit slips, and register. Let him practice with his allowance dollars, pretend money, or whatever works for your family.

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Additional Resources

Checkbook: Checks (archived)
Printable practice checks.

Checkbook: Deposit Slips (archived)
Printable practice deposit slips.

Check Register
Printable check register form at PrintablePaper.net.

Bank Reconciliation Form
Printable bank reconciliation form from McGraw-Hill.

Using an Excel Checkbook (archived)
Complete lesson plan with 10-page guide that walks students through the process of using and balancing a checkbook. Answers to the tutorial are included.

Your Money, Your Future
Great 27-page download to guide students.

Unit on Checking
From FinanceInTheClassroom.org.

Learning About Checks
9-page download from Deluxe Corp.

Money Matters
A unit from North Dakota.