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Tracking John Dough's Spending

It is very important to know how much money is available in an account to avoid "overdrawing" the account – that is, taking out more money than is in the account. When a person overdraws an account, the bank charges the account holder a fee. The fee can be quite high – as much as $35 per overdraft.

What would you need to know in order to keep track of the money in your account?

A. Deposits

B. Withdrawals

C. Purchases made with a check

D. Purchases made with a debit card

E. Fees charged by the bank

F. Interest earned

Check Answers

Consider this:

  • To keep track of the money in your bank account, you need to know the amount of each deposit to your account, the amount of each withdrawal from your account and the amount of each check that you issue or each purchase that you make with a debit card.
  • Banks and credit unions provide bank account registers in which account holders are able to keep track of their money. A bank account register is essentially a table in which the account holder records important information.
  • Banks and credit unions provide online banking services, which allow account holders to use the Internet to transfer money electronically and view all of the financial transactions recorded for their accounts, including all deposits and withdrawals.

Move your mouse over each highlighted part of the check to learn more about it.

It's Your Paycheck Check-Up

Why is it important to sign your check?
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You may choose to use your bank’s online banking tools instead of writing checks, but you should still record all of your transactions in the bank account register. You’ll learn more about online banking tools in the next section, but first, let's take a look at the different types of transactions John has recently made using his checking account.


Which amount is added to your balance, a credit or a debit?
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