Balancing Your Check Register: Key Concepts and Techniques

This video tutorial covers the basics of personal financial literacy for sixth graders, focusing on how to balance a checkbook register. It walks through recording expenses, handling deposits, and writing checks, using a practical example of managing a budget to purchase a virtual reality headset. The tutorial emphasizes the importance of keeping an accurate running balance and understanding the timing of check clearances.

What is the initial balance in the checkbook register?

• $400

• $490

• $500

• $480.05

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How much did the first expense cost?

• $280

• $19.95

• $74.38

• $20

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What was the first expense related to?

• A family meal

• A video game expansion pack

• A birthday gift

• Car insurance

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What was the second expense for?

• A birthday gift

• Car insurance

• A video game expansion pack

• A family meal

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How much did the family meal cost?

• $19.95

• $74.38

• $20

• $280

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How much was the paycheck?

• $350.18

• $74.38

• $280

• $20

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What was the purpose of the paycheck?

• To buy a VR headset

• All of the above

• To pay for car insurance

• To cover family expenses

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What was the amount of the car insurance payment?

• $74.38

• $20

• $199.95

• $280

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Who gave a birthday gift?

• The bank

• Grandma

• Parents

• McDonald's

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What was the final balance after all transactions?

• $500

• $495.85

• $750.58

• $405.67

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