MONEY: SPENDING, AND SAVING
Teaching set of bills and coins
Spending Money and Shopping
We had Eric spend money at stores and walked him through the process of checking out and getting change. His SLP did quite a bit of work with this at Starbucks!
Allowance and Savings Account
I opened a savings account for Eric that automatically transferred his allowance to his account every Friday. I then gave him a small notebook with instructions and a check register and checks that I printed out.
Instructions for Savings Account
Eric's Money
1. You have a bank account (a account is where you
keep your money at a bank) at Wachovia. I created this account for you
so you would have a special place to keep your money safe. I also want
you to learn how to save and spend your money.
2. Every Friday, the bank takes $10.00 (ten dollars)
away from my account and adds it to your account. This $10.00 (ten
dollars) is the amount of your weekly allowance. This addition of money
into your account is called a deposit. So every Friday, you get a
$10.00 deposit into your account and the bank keeps it safe for you and
also keeps a record of the amount that you have in the account. So
every week, you have ten more dollars than the week before.
3. When you want to buy something, or if you want to
have cash to carry around, you can write a check for the amount to me.
I will then take that amount of money out of your account. Taking money
out of your account is called a withdrawal. I will show you how to
write a check. You cannot write a check for more money than you have in
your account!
4. Deposits and withdrawals are type of transactions.
Transactions are actions that you take with your money collection
(adding to it or taking from it).
5. The bank will pay you a small amount of money
every month just for keeping your money stored with them. This is
called an interest payment. Getting money for keeping your money in a
bank account is like getting free money!
6. All of these transactions should be recorded in
your transaction register. After you write down each transaction, you
need to calculate the total amount of money you have left in your
account. I will show you how to do this.
7. It’s fun to watch your money grow (increase
in amount) and it’s good to know exactly how much you have.
Check Register and Checks