Paymaster might sound like sound like an evil boss (to people of a certain age). Not so for kids, it’s a money management tool.
“Check” out the machine that my team found at an antique sale this weekend. I was delighted that the machine is now in our toolkit. A check writing machine is a great value added device for extension activities for our banking curriculum. Students will have a hands on experience with creating checks of their own.
The checks that they create will have all of the necessary components – routing number, account number, date, payee, payor, memo line, etc. We will have nice chats about checking and they get to use the machine to complete the process. Financially speaking, for me its the equivalent of baking cookies with the class. We’ll go through the process and discuss each component at every turn, making their own decisions about the project, and they will have something to show for it.
For the class, we will also discuss checking, savings and banking – followed by a bank visit. When was the last time YOU went to the bank, just for a visit? What is a good experience? For the kids, its a great one.
Who writes checks anymore? Doesn’t matter! Banks still open checking accounts for customers (whether or not checks are written). Find out where you can get the best bank rates in your area, if you qualify.
Writing (and in the case of my students making) checks is still a great way to teach children the information contained on a check that helps them understand what banking is all about.
As for working with a sour boss or “Paymaster”, the students will discuss that as well… When we get to our segments on income, financial etiquette and becoming your own boss and other sessions that tie into good money management as a life skill.
The “Can I Have Some Money?” book serires also facilitate the conversation about money, to explain money through the eyes of young Maximillion, his family and friends. Check in with Sparks Fly soon, for more intereactive fun ideas in the world of finanical literacy for you(th).