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6th grade · Math · Unit 19 of 19

Banking, Credit & College

Checking, cards, credit and college

What your child practices

Personal financial literacy: your child compares checking accounts, tells debit from credit cards, balances a check register, learns why credit history and credit reports matter, compares ways to pay for college, and compares salaries for jobs that need different training.

Texas Essential Knowledge and Skills (TEKS) teks student expectation: 6.14(A); 6.14(B); 6.14(C); 6.14(D); 6.14(E); 6.14(F); 6.14(G); 6.14(H) · checking accounts, debit and credit cards, check registers, credit history and reports, paying for college, and salaries

How we explain it

Children can open this short lesson before they practice.

  1. A debit card spends money already in your checking account; a credit card borrows money you must repay.
  2. In a check register, add deposits and subtract withdrawals, checks and transfers out.
  3. Paying bills on time builds a good credit history, which lenders check in a credit report.

Example: Balance $200. Deposit $50. Check written for $35. What is the new balance? 200 + 50 = 250. 250 − 35 = 215. Answer: $215

Banking, Credit & College in Texas

In the Texas Essential Knowledge and Skills (TEKS), this is unit 19 of 19 in 6th grade Math, after Adding & Subtracting Integers.

Gradelings describes a child's practice on this unit as Beginning, Approaching, Meeting or Exceeding (Four practice steps). That reflects practice, not a report-card mark: the teacher decides the mark.

Source: Texas Education Agency (TEA)

Sample questions

A taste of this unit. In the app, questions change every time and get easier or harder to match your child.

  1. Question 1

    Saving money for college each month before you go is an example of…

    • a scholarship
    • work-study
    • a grant
    • paying with savings

  2. Question 2

    A grant for college is usually based on…

    • how fast you run
    • financial need
    • how tall you are
    • your shoe size

  3. Question 3

    A checking account is mainly used for…

    • earning lots of interest
    • paying for everyday things and bills
    • borrowing money
    • buying a house

  4. Question 4

    A check register shows a balance of $250. You deposit $75. What is the new balance?

    • $300
    • $325
    • $175
    • $250

  5. Question 5

    A credit card…

    • never charges interest
    • is the same as cash
    • lets you borrow money that you must pay back
    • takes money straight from savings

  6. Question 6

    Balance $95. You make a $110 purchase with your debit card. What could happen?

    • your balance becomes $205
    • the bank adds $110
    • an overdraft fee, because the account goes below $0
    • nothing, debit cards have no limit

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