Deposits vs Withdrawals

ObjectiveTo teach children how to account for money that is received and spent.
Description Bank Book

Create a simple but large check book register to help you to keep track of your deposits, withdrawals and bank balance.

Steps:

1. Get a piece of poster paper, a large ruler, and felt markers. You may also want to gather glitter, stickers or paint to decorate your bank register.

2. Put a large title at the top of the page, "My Bank Register". 

3. Divide your sheet into three columns and ten to twenty rows. 

4. Title the first row "Deposits", title the second column "Withdrawals", and title the third row "Balance" (Balance is how much money you have in your account).

5. Decorate the poster the way that you like and then hang it up somewhere that is easy for you to get to.

6. When you get money write down the amount in the "Deposits" column, add the deposit amount to your Balance and write the new balance in your third column.

7. When you spend money write down the amount in the "Withdrawals" column, subtract the amount from your balance and write the new balance in the third column.

The register will allow you to:

  • Keep track of money received from allowance or earned through extra chores, good behavior, etc.  You should also record the reason for the deposit in addition to the amount of the deposit.
  • Keep track of money spent on purchases. You should also record the reason for the withdrawal in addition to the amount of the withdrawal.
  • Calculate a running total of the amount of money that you have available to spend.

 

 

Complete When

Mark this activity as complete when you have created your register and are regularily keeping track of you withdrawals, deposits and bank balance.

Track your progress and earn badges!

This activity is included in the following:

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Age Range 6    7    8    9    10   
Activity Type Project
Tags Logical-Mathematical Intelligence  Expenses  Income  Banking  Allowance 
CreatedCassandraCassandra
Last ModifiedRobRob

References

Reference Reference Note  
K-3 Teacher Resources

This article is about a Bank Register Rewards System as implimented in the classroom. This activity could be easily adapted for home use.

Bank Register Reward System

Home-School: Love to know

These are some activities on teaching banking to six year olds.

Teaching banking to six year olds

Questions or Comments

  1. RT32RT32 says:

    Perfect way to keep track of money and have children become financially responsible for their earnings. 

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