Idaho Social Studies 9-12.EC.15
The Standard
Demonstrate procedures for opening and managing checking and savings accounts, including writing checks, managing virtual accounts, and accessing statements.
Idaho Content Standards: K-12 Social Studies · Personal Finance
Teacher's field guide
What This Standard Means
What Students Need to Do
- Students compare account fees, minimum balances, and opening requirements. They fill out a sample application and write a check. They record deposits, payments, and transfers in a mock online account, then check the statement against their records.
What Mastery Looks Like
- A student can identify what a bank requires to open an account and choose one for a stated need. They write a check with matching numeric and written amounts and track transactions without overdrawing. They find a statement online and spot a fee or missing transaction.
Common Misconceptions
- Students may count a check that has not cleared as money they can still spend. They may assume a savings account works like checking for everyday purchases. Some leave the written amount or signature off a check, or mistake a bank fee for a purchase.
How to Assess It
- Give students a mock statement with a $120 opening balance, a $35 check, and a $5 fee. Ask for the closing balance and which entry is the bank charge.
Lesson moves
Ways to Teach It
Set out mock bank forms, ID cards, and blank checks; have pairs open a pretend account and write a $28 check for supplies.
Have students write which works better for weekly purchases, a checking account with a $6 fee or a free savings account, and why.
Use a paper ledger game: draw deposit, debit, and transfer cards, then compare the ending balance with a mock statement.
Have students compare two local banks' account pages for opening deposits, monthly fees, and online statement access, without entering personal information.
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Related Standards
- 9-12.EC.18
Demonstrate how to use comparison shopping skills to make purchasing decisions, including major purchases and college education.
- 9-12.EC.14
Demonstrate how to set financial goals and analyze the costs and benefits of spending decisions.
- 1.SS.3.3
Identify ways to save money for future needs and wants
- 3.SS.3.4
Identify different examples of making an economic choice, including consumption of goods and services, using a bank, investing, and budgeting.
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