How Do You Teach An Adolescent To Balance A Checkbook?
Children learn early how to count money and make change, but today, we rely less on cash and more on personal banking. Whether you write checks or use a debit card, it’s essential that children learn how to balance a checkbook register. Connect your chidlren’s concepts of finance with the intangible money held in banking accounts. Although they may not have the money in their piggy bank, it is still there and in their name. Having an account requires them to put money in their virtual “piggy bank” and spending it is like taking the money out. Associate subtraction and addition with the terms “debit” and “credit.” Learning these will be helpful when dealing with a bank or accountant. When money is deposited into the checking account it is called a credit. Teach them that when the money is spent it is considered a debit. Teach your children to maintain records of what they do with their money. They should account for every addition or subtraction needs in the checkbook register. Record s
