Today we begin our second "month" of transactions.  We have many more checks to write, more ATM transactions to register, and more real-world transactions to simulate.  It should be fun.

Remember, if you're confused then you're probably doing it correctly.  The confusion generally comes because you care about getting this done accurately.  It's good to work through the confusion and nervousness when it's not your [or even real] money -- because eventually it will be.

Let me know if I can help you through any of the confusing parts.

Today we will be balancing our checkbook by using our monthly bank statement to "reconcile" the amounts in our check register.  We will also be completing an application for a used car and working through a quick budget worksheet to see if we can afford the car. 

Try to get your accounts balanced and reconciled because we begin the next months transactions tomorrow.

Hi Everybody! Unfortunately my illness finally got the better of me and I am home sick today. I expect my students to treat my substitutes with respect.  I don't want to hear a bad report from Ms. Pilqer.

What I would like you to do today is:

• Check your stocks at Virtual Stock Exchange.
• Complete your 1st months checking transactions.
• Compare your check register and balances with others.
• Work on your typing / practice for upcoming typing certification.

Due to unforeseen technical difficulties, we are going to start the Checking Account project on Monday.  Instead, we will today look at investing -- specifically the stock market.

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Scenario:  Your eccentric "Uncle Hoot" left you $100,000 in his "Last Will and Testament" -- the only catch is that you have to invest it all in a U.S. Stock Market and you can't check it out until June 1st. 

In order to get started, you need to sign up for an account at the Virtual Stock Market.  Just click on "Please Register" and then fill in the blanks (you can use your KHS gmail if you would like).  Then click on "Continue".   Next you need to join our class game -- in the box that says "Enter the Game ID below" type in KHSGriff (exactly as it looks) and press ENTER (or click the little orange triangle).  In the screen that opens up where it says, "This is a Private Game. Enter Game Password" go ahead and put in knights as the password.

[Note: The person who manages to make the most on their stock market portfolio will win a prize and a certificate at the conclusion of the challenge on June 1st.]

After we are signed up for the account, we will discuss how the Stock Market works and the principles of investing.

Here's an interesting old cartoon explaining how the Stock Market works.

Congratulations!  You got the job at Griffith Enterprises!

You need to complete a W4 Form before you can start working.  Work through the W4 that I give you in class (if you need a copy you can get one from the IRS here) and place the completed page in your envelope.

Next, complete the Checking Account Application that I give you in class.  If you need to come back to this later (or if you were absent when we did the lesson) you can get a copy here.  We will walk through what some of these questions mean, so if you don't understand something on the form please leave those questions blank until we talk them over.

Make sure your Résumé and cover letter are finished and in your envelope.

Next, go to KHS Daily Bulletin and look over some of the MANY scholarships that are currently available.

When you have completed the activities above, please practice your typing.  I really want to be able to certify each of you with a high score.  You MUST have 30 wpm [or more] with a 97% accuracy [or more] to get a certificate.  If you would like to come in during lunch or before/after school to practice, please let me know.

Today we will begin working on our Banking Simulation by applying for a job:

• You are applying for an entry-level position as a [you decide the job] at Griffith Enterprises -- one of the most prestigious companies in the county.  The position pays $2000 per month and you will be paid twice per month ($1000 on the 1st and $1000 on the 15th).  
• Complete the Employment Application form that I will pass out in class.  You can also download a copy of the application here if you need one.
• Include a Résumé highlighting skills that will reflect this new position..
• Write a Letter of Application / Cover Letter to accompany your résumé.  Details for the letter are: Griffith Enterprises, 5480 Main Street, Kelseyville, California 95451.  (707) 279-4923.  The head of personnel is Robert Griffith.
• Place your application, resume, and cover letter in your large envelope [that I will pass out].
• Write your name on the top-front of your envelope and put your envelope in the black basket on the shelf.

Note:  If you are not able to print, make sure you save your documents to a USB drive or email them to yourself so you can print from another computer.  You MUST print these for the simulation.

First, spend 10 minutes working on your typing.  The typing test will be at the end of the 3rd Quarter, so get that speed up for your Typing Certificate.

Next we are going to do a quick simulation of writing checks and using a check register.  I will be passing out a worksheet with three checks and a register (you can view a copy here: Checks with Register).  Use the following scenario to complete your worksheet:

• You begin with $135.72 in your checking account.
• You receive a Check for $550.00 from your work and Deposit it to your checking account on 3/1/10.
• Write a Check for your rent on 3/1/10 for $525 to Kelseyville Green Apartments.
• You go to dinner at Lyndall's on 3/5/10 for $18.27 and use your Debit Card.
• You send a Check to John Smith in the amount of $31.19 on 3/12/10 for a movie you bought on eBay.
• You receive a Check for $550.00 on 3/15/10 from your work and you Deposit it to your checking account.
• You write a Check for your car payment on 3/16/10 in the amount of $224.72.
• You use Online Banking to pay $124.25 for your PG&E bill.

Compare your ending balance with a neighbors to verify your accuracy.

Today we will begin discussing banking to prepare for our banking/checking simulation.  During the simulation you will be using "checks", credit cards, debit cards, etc. to pay for services and merchandise.  We will be applying for a job, filling out the necessary paperwork to start working, look at our pay stubs, pay our bills, balance our checkbook, etc.

Let's begin by looking at banks and credit unions:

• A bank is a for-profit company owned by investors in its stock.  These stockholders elect a paid board of directors to manage the bank for them.  Anyone can walk up to a bank and open an account.
• A credit union is owned by their customers, who are also called members.  These members elect a volunteer board of directors (who are also members) to manage the credit union for them.  Credit unions have membership qualifications.  By law, each credit union must serve a defined segment of the population.  To join a credit union, you have to work for or have a family member who works for an employer in that segment.

Although both institutions have definite differences, both can meet your needs.  Both provide a variety of basic financial services including savings and checking accounts, issuing credit and debit cards, and providing loans for cars, homes, and other purposes.

Check out the the following local banks and make a list of what services they offer:

• Umpqua Bank
• West America Bank
• Savings Bank of Mendocino County

Print your paper and turn in to the basket on top of the printer.  (If your computer will not print, email your finished list to askgriff@gmail.com).  

Next we will discuss the anatomy of a check: