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Article Title: Teachers, do not overlook teaching your students
how to write checks.
Author Name: Timothy Liptrap
Contact Email Address: tliptrap@...
Word Count: 393
Category: Education, Banking, Teaching, Parent and Family
Copyright Date: 12/31/02
Internet Address: http://www.101financiallessons.com
Autoresponder Address: checks@...
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Complete Article with Resource Box at end:
The stock market is in a downturn, corporations are laying off
workers, public companies are collapsing and federal law makers
want the next generation of students to understand how to manage
A subject that was once kept in the home is being moved to the
school systems because the teaching of financial education in
the home is failing. In 2002, 75% of the graduating high school
seniors could not answer basic financial concepts. To solve the
problem, teachers at all levels are being asked or pressured to
include lessons on subjects such as credit, debt, money
management and investments.
A simple, but yet effective money management lesson is to teach
children how to write checks and balance a checkbook. It may not
be as glamorous as teaching stocks or mutual funds, but will
provide practical experience for children of all socioeconomic
backgrounds. In a recent study, 87% of the US adult population
or 172 million people use a checking account to pay bills.
In today's world, it may seem that the concept of using paper
checks to pay bills is falling to wayside with the onset of ATM
/ debit cards, direct deposit and electronic funds transfers
(EFT). Do not be fooled. The Federal Reserve Bank is predicting to
process 50 billion paper checks in 2003. The Nilson Report also
states that the volume of paper checks will rise between 2% - 4%
each year, through 2020.
A successful lesson plan can help a child develop the foundation
necessary to build important money management skills that they
will need through out their lifetime. Understanding basic
financial tools, will help students manage their money, stay
within budget and problem solve. Timothy Liptrap, a co-author of
the 68 page lesson plan How to Write Checks states "students,
who understand how to budget, spend and manage their money, will
be better off than many adults in today's world."
According to Liptrap, Teachers who create their own lessons
should "keep the lesson plan practical" while teaching
conceptual skills. "Each month when a parent sits down to pay
the bills, they should have their child pull-up a seat to assist
and learn. A lesson plan should replicate this experience in
the classroom by providing practice checks, bank statements, mock
invoices and check registers for each student."
Timothy Liptrap, is VP of Education and Develoment for the free
101 Financial Lessons newsletter. Visit http://www.
101financiallessons.com for more information. The newsletter
provides teachers and parents materials and ideas to teach money.
Copyright 2003. www.101 Financiallessons.com
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