WHAT TO DO DURING THE GAME:

  1. Reconcile daily
  2. Check your email daily for communications from vendors.
  3. Log in every 5 days to stay engaged.
  4. Take ALL quizzes/surveys.
  5. Pay all bills on time.
  6. Stay engaged in your finances by updating and using your CFS and actively managing your 401(k) contribution and your bank account type.

TODAY CHECK:

  1. Feb 27–Lots-O-Watts Energy Service Charges

WE WILL DO THIS TOGETHER:

  1. RECONCILING USING THE CASH FLOW STATEMENT–Read this
  2. TEST DRIVE LEARNING TO RECONCILE--Do this. You will need the following document: BANK ACCOUNT ACTIVITY
  3. TERMINOLOGY:
    1. Credit – Money added to your bank account. Also referred to as a deposit.
    2. Debit – Money deducted from your bank account. Also referred to as a withdrawal.
    3. Negative Balance – The bank account has less than $0.
    4. Net Income – The dollar amount of your paycheck. This is your “take-home” pay.
    5. Minimum Balance –The lowest balance possible without receiving a fee.
  4. VIRTUAL BUSINESS CHALLENGE PERSONAL FINANCE–2018–until March 2, 2018