WELCOME

to the

JA BizTown ®

Experience
Soon, you will spend the day at JA BizTown. First, though, you will learn what it takes to run a
business and manage your money. You will learn how people like you, and businesses like
those you will help manage, form a community. After all, that’s what JA BizTown is—It’s a
community where people live, work, trade, and share. In a community, citizens work together
to make their lives better.

Liberty Speaks

“ At JA BizTown and in the United States, citizens propose, debate, and agree
on actions and policies to improve their communities.
”
In the coming weeks, you will apply for and be assigned a job in one of the JA BizTown
businesses. You will practice several skills to help make you a valuable member of your
business team and community. You will learn how to write checks, make deposits, maintain a
money tracker, use a debit card, and spend money—just like adults do in the real world!

When you arrive at JA BizTown, you will earn a paycheck for your job. You also will have the
opportunity to spend those earnings on real products for sale. You and your fellow citizens
will work to create a thriving community that enjoys a healthy exchange of goods, services,
resources, and money.

Study hard. Prepare well. Enjoy the activities. We will see you soon—at JA BizTown.

JA BizTown Citizen Guide – Elementary and Middle School students

© 2023 Junior Achievement USA
All rights reserved.
Colorado Springs, Colorado
Any text of this publication, or any part thereof, may not be reproduced or transmitted in any form or by any means, electronic or mechanical,
including photocopying, recording, storing in an information-retrieval system, or otherwise except in the course of conducting a registered Junior
Achievement USA class or with the permission of the publisher.
Copyrights of select materials and content integrated throughout this program have been licensed to JA USA by The Farrell Company (http://www.
TheSpiritOfEnterprise.com).
Copyright © 2006 The Farrell Company, USA. All rights reserved.
All Web links in this guide were correct at the time of publication. If a link is found to be no longer active or has been changed, please email
[email protected] with the words “Link Update” in the subject line. Include the page number on which the link appears in this guide.
First Edition 2006
 Contents
Financial Literacy
Financial Services ............................................................................................................1
Earn, Save, and Spend.................................................................................................. 11
Banks and Saving.......................................................................................................... 27
Types of Payments........................................................................................................ 35
JA Family Newsletter – Unit 1....................................................................................... 47

Community and Economy

Citizenship...................................................................................................................... 49
Circular Flow of an Economy....................................................................................... 59
Free Enterprise.............................................................................................................. 65
Where Does Your Money Go?...................................................................................... 73
JA Family Newsletter – Unit 2....................................................................................... 83

Work and Career Readiness

Interests and Skills........................................................................................................ 85
Job Skills and Behaviors................................................................................................ 91
Elections, Yesterday and Today................................................................................... 97
JA Family Newsletter – Unit 3.................................................................................... 101

Business Management
Business Costs............................................................................................................ 103
Setting Prices.............................................................................................................. 113
Visit Preparation......................................................................................................... 119
JA Family Newsletter – Unit 4.................................................................................... 121

Visit and Debriefing

The Visit....................................................................................................................... 123
Debriefing.................................................................................................................... 124
JA Family Newsletter – Unit 5.................................................................................... 127

Glossary................................................................................................................... 139

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 Financial Services

Private Property
Rights and Responsibilities
You have a right to own property. Property includes money. Because
you personally own it, it is private and not public property. It is your
responsibility to make wise choices about managing your money.

Declaration of Independence
• A foundational concept of our country is equality.
• In the Declaration of Independence, the founders stated that all people are
created equal and have equal rights. This means one job of the government is to
equally protect everyone.

Liberty Speaks

“
In the declaration the founders chose the words Life, Liberty
and Pursuit of Happiness. Another choice was Life, Liberty and
Property. The right to own property, including your own person,
possessions, wealth, thoughts, and opinions was considered
part of a person’s natural, or unalienable, rights.
”

We hold these truths to be self-evident,

that all men are created equal, that they
are endowed by their Creator with certain
unalienable Rights, that among these are
Life, Liberty, and the pursuit of Happiness.

Junior
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Financial Literacy 1
 Nicolo Scuderi Feb 13, 2025
NAME:____________________________________________________ DATE:___________________

Financial Services Scavenger Hunt

Directions: Read the ads and list the services that financial institutions provide.
After you have finished, brainstorm as a team any additional services they offer.

Name of Financial Institution Services

Star Savings and Loan Home equilty loans, NO annual fees

Hometown Credit Union Financial help, Checks and savings accounts and
competitive intrest rates.

Security Central Bank NO annual fees and NO monthly charges, and

high-intrest savings accounts.

Village Bank and Trust Free checks for life, Easy-to-read monthly
balance statements, 24-hour online account
information, 24-hour free ATM access,
Investments, business banking, personal
UNited City Bank Checking accounts
banking, mortgage loans.

E-Wallet-Your Money at Your Online Purchases, transfer your money to your

Fingertips friends, family, and other stores.

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Bank Account Application
Application Type (Check all that apply.)
¨ Checking account
¨ Savings account
¨ Debit card
¨ Please have someone contact me about a loan.

Applicant's Name _____________________________________________________________________

School Street Address ________________________________________________________________

City, State _______________________________________ Zip Code ___________________________

Teacher's Name ______________________________________________________________________

Social Security Number: 123-45-6789

Marital Status: o married o single

Please sign here and present proof of identity.
(A library card, lunch pass, or graded paper with your name will be adequate.)

Applicant's Signature _________________________________________________________________

Please note that this signature will be used as an example to be verified against
future account activity.
¨ I hereby confirm that all information provided is accurate and truthful to the
best of my ability.

Do not write below this line.

Application Official Action

o Accepted o Denied

Account Number ________________________________________

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 Choosing a Financial Institution
Financial institutions are businesses that provide money-related services. They
receive money from citizens and businesses and use that money to make
investments, give loans, and provide other financial resources.

Read the descriptions of the various kinds of financial institutions and then help the
customers in the questions decide which financial institution would best suit their
needs.

BANK

Bank Credit Union

Provides financial services for profit. Provides the same financial services
• Receives deposits. as a bank, but members own and
• Pays interest. control it as a nonprofit business.
• Offers online banking. • Needs of members are more
• Makes loans. important than profits.
• Invests money. • Members usually share
• Is owned by private investors. something in common, such as
where they live or work.

Savings and Loan Internet Bank

Often focuses on real estate Allows access to money through
financing, but also provides savings mobile apps, cell phones, websites,
and checking account services. and ATMs.
• Is run by a board of directors. • Has no physical building(s).
• Can be a corporation in which • Has no walk-up tellers.
making a deposit is like investing • Charges low fees.
in the company. • Pays higher interest rates.

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NAME:____________________________________________________ DATE:___________________

Questions About Choosing a Financial

Institution
1. Joe works at a company where he designs shoes. He needs to have bank services
but wants to become a member at a local, not-for-profit financial institution that
would support his company. Where should Joe do his banking?

_______________________________________________________________________________________

_______________________________________________________________________________________

2. Jose and Juanita are buying a new home. They want a bank that understands
loans and can also manage their deposits and checking account. Where should
Jose and Juanita do their banking?

_______________________________________________________________________________________

_______________________________________________________________________________________

3. Jemma has never used a bank before and wants to open a student account. She
wants a student account to be able to write checks, make deposits, and have a
debit card. Jemma wants a financial institution that will be the same no matter
where she lives or works. Where should Jemma do her banking?

_______________________________________________________________________________________

_______________________________________________________________________________________

4. Jordan is a businessman and often on the go. He wants to be able to bank

anytime, anyplace, without having to go to a building. Where should Jordan do
his banking?

_______________________________________________________________________________________

_______________________________________________________________________________________

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Financial Literacy 5
 NAME:____________________________________________________ DATE:___________________

Bank Teller Computations

1. A teller at City Savings and Loan 3. A customer at Hometown Credit
counted 15 quarters, 10 dimes, Union deposited 4 $20 bills, 12 $10
5 nickels, and 25 pennies. bills, 25 $5 bills, 22 $1 bills, 3 quarters,
4 dimes, and 12 nickels.
× .25 =
× $20 =
× .10 =
× $10 =
× .05 =
× $5 =
× .01 =
× $1 =
Total
× .25 =

How much money was there? __________ × .10 =

2. A teller at United City Bank counted × .05 =

5 $20 bills, 10 $10 bills, 10 $5 bills,
and 45 $1 bills. × .01 =

× $20 = Total

× $10 =
How much did she deposit? ____________
× $5 =

× $1 =

Total

How much money was there? __________

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4. A teller at Financial Savings and Loan 6. A clerk at Founders Financial Services
counted customer cash deposits at the counted the days deposits. There were
end of her shift. There were 4 $100 bills, 6 $100 bills, 5 $20 bills, 60 $10 bills, 32
3 $50 bills, 12 $20 bills, 60 $10 bills, 32 $5 bills, 55 dimes, and 34 nickels.
$5 bills, and 450 $1 bills.
× $100 =
× $100 =
× $50 =
× $50 =
× $20 =
× $20 =
× $10 =
× $10 =
× $5 =
× $5 =
× $1 =
× $1 =
× .25 =
Total
× .10 =

How much money was there? __________ × .05 =

5. Susan counted her money to deposit in her Total

savings account at First Federal Bank. 31
$10 bills, 14 $5 bills, 4 $2 bills, 62 $1 bills,
13 quarters, 3 nickels, and 93 pennies. How much money was there? __________

× $20 =

× $10 =

× $5 =

× $2 =

× $1 =

× .25 =

× .05 =

× .01 =

Total

How much money would she deposit in her

savings? ________________________________

Junior
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Financial Literacy 7
 7. The manager at Country Credit Union 8. Victor, a customer at Friendly Financial,
counted the daily withdrawals. She counted his money to make a deposit.
noted 56 $100 bills, 5 $50 bills, 19 $20 He had 3 $20 bills, 34 $10 bills, 9 $5 bills,
bills, 33 $10 bills, 55 $1 bills, 13 quarters, 15 $1 bills, 16 quarters, 55 dimes, and
12 dimes, and 1 penny. 44 nickels.

× $100 = × $100 =

× $50 = × $50 =

× $20 = × $20 =

× $10 = × $10 =

× $5 = × $5 =

× $1 = × $1 =

× .25 = × .25 =

× .10 = × .10 =

× .05 = × .05 =

× .01 = Total

Total How much money was there for his

How much money was withdrawn? deposit? ________________________________

_________________________________________

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9. A teller at Star Savings and Loan counted 10. A teller at Village Bank and Trust
8 of all the following: $100 bills, $50 counted 9 $100 bills, 18 $50 bills,
bills, $20 bills, $10 bills, $5 bills, $1 bills, 13 $20 bills, 14 $10 bills, 5 $5 bills,
quarters, dimes, nickels, and pennies. 11 $1 bills, 13 quarters, 2 dimes, and
1 nickel in deposits.
× $100 =
× $100 =
× $50 =
× $50 =
× $20 =
× $20 =
× $10 =
× $10 =
× $5 =
× $5 =
× $1 =
× $1 =
× .25 =
× .25 =
× .10 =
× .10 =
× .05 =
× .05 =
× .01 =
Total
Total

How much money was deposited?

How much money was there? __________
_________________________________________

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 NAME:____________________________________________________ DATE:___________________

Private Property – Money

Imagine that you have $100 in your bank account. Work together to come up with as
many different things that you could do with your money.

_______________________________________________________________________________________

_______________________________________________________________________________________

_______________________________________________________________________________________

_______________________________________________________________________________________

_______________________________________________________________________________________

_______________________________________________________________________________________

_______________________________________________________________________________________

_______________________________________________________________________________________

_______________________________________________________________________________________

_______________________________________________________________________________________

_______________________________________________________________________________________

_______________________________________________________________________________________

_______________________________________________________________________________________

Comparing Economies
• Private property protections allow you the freedom to make your VS
own decisions about what to do with your money.
• In communities where no private property is allowed, decisions
are made for you, and you may or may not like what is done with the cookies
you’ve made.

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 Earn, Save, and Spend

14th Amendment to the

U.S. Constitution

Excerpt of Section 1:

No State shall make or enforce any

law which shall abridge the privileges
or immunities of citizens of the United
States; nor shall any State deprive
any person of life, liberty, or property,
without due process of law; nor deny
to any person within its jurisdiction
the equal protection of the laws.

Deposit Ticket
To deposit a check, you need a deposit ticket. Examine the parts of the deposit
ticket.

DEPOSIT TICKET CASH

NAME
Jennifer Smith COIN

8 .50
DATE
April 18 20
24
DEPOSTS MAY NOT BE AVAILABLE FOR IMMEDIATE WITHDRAW

Jennifer Smith SUB TOTAL

8 .50
SIGN HERE FOR CASH RECEIVED (IF REQUIRED)
–1 .50
LESS CASH
RECEIVED

JA BizTown® Bank
NET
DEPOSIT $ 7 .00
Routing Number: ACCT.# 234

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Financial Literacy 11
 NAME:____________________________________________________ DATE:___________________

Practicing Deposits
Directions: Work with a partner to practice writing and endorsing paychecks. Fill
out the deposit ticket after you have completed endorsing the paycheck.

FRONT

Check No.
NAME

DATE 20

PAY TO THE
ORDER OF:

DOLLARS

MEMO

JA BizTown® Bank

BACK
DO NOT WRITE OR STAMP BELOW THIS LINE
RESERVED FOR FINANCIAL INSTITUTION USE
ENDORSE HERE

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DEPOSIT TICKET

DEPOSIT TICKET CASH

NAME COIN

DATE 20
DEPOSTS MAY NOT BE AVAILABLE FOR IMMEDIATE WITHDRAWAL

SUBTOTAL

SIGN HERE FOR CASH RECEIVED (IF REQUIRED)

LESS CASH
RECEIVED

JA BizTown Bank
®
NET
DEPOSIT $

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Financial Literacy 13
 NAME:____________________________________________________ DATE:___________________

Endorsing Paychecks
Directions: Before depositing a check, it must be endorsed. To endorse a check,
sign your name on the back of the check at the same end as “endorse here.”

FRONT

NAME
JA BizTown News Check No.

DATE Jan. 5 20 24
PAY TO THE
ORDER OF: 8.33
Eight and 33/100 DOLLARS

MEMO
Payroll Scott Montgomery
JA BizTown® Bank
ACCT.# 234

BACK
DO NOT WRITE OR STAMP BELOW THIS LINE
RESERVED FOR FINANCIAL INSTITUTION USE
ENDORSE HERE

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Imagine you have earned your first paycheck at JA BizTown and are ready to make a
deposit.

1. Which business wrote the check?__________________________________________________

2. Where did you endorse the check?________________________________________________

3. Why did you sign your name on the back of the check?____________________________

4. What do you need with the check to make the deposit?___________________________

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Financial Literacy 15
 NAME:____________________________________________________ DATE:___________________

Saving and Spending Game

SCORE SHEET
Round 1 Round 2 Round 3

Balance $10.00

Money Earned

Money Spent

Money Saved

Interest × 0.30

Total*

(*Transfer this amount to the balance line in the next column.)

Items Purchased
_____________________________ ___________________________ ___________________________

_____________________________ ___________________________ ___________________________

_____________________________ ___________________________ ___________________________

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NAME:____________________________________________________ DATE:___________________

Saving and Spending Game Register

Directions: Write a check or complete the electronic payment receipt for the total
amount you owe the JA BizTown General Store.

If you did not make any purchases, write an amount to transfer to your savings
account.

Check No.
NAME

DATE 20

b l e
PAY TO THE

t i a
-Nego
ORDER OF:

Non
DOLLARS

MEMO

JA BizTown® Bank

JA General Store receipt

DATE

PAYMENT TYPE
Debit Card

PAYMENT AMOUNT

AUTHORIZATION CODE
12369

Junior
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Financial Literacy 17
 MONEY TRACKER
DATE DESCRIPTION WITHDRAWAL (−) DEPOSIT (+) BALANCE (=)

− +
=

− +
=

− +
=

=
Ending Balance

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Check It Out!
DEPOSIT TICKET CASH

NAME
Jennifer Smith COIN

8 .82
DATE
July 1 20 24
DEPOSTS MAY NOT BE AVAILABLE FOR IMMEDIATE WITHDRAWAL

Jennifer Smith SUBTOTAL

8 .82
SIGN HERE FOR CASH RECEIVED (IF REQUIRED)
–2 .00
LESS CASH
RECEIVED

$
JA BizTown® Bank NET
DEPOSIT 6 .82
ACCT.# 234

NAME
Jennifer Smith Check No.

DATE July 1 20 24
JA BizTown Delivery
PAY TO THE
ORDER OF: 1.50
One and 50/100 DOLLARS

MEMO
candygram Jennifer Smith
JA BizTown® Bank
ACCT.# 234

MONEY TRACKER
DATE DESCRIPTION WITHDRAWAL (−) DEPOSIT (+) BALANCE (=)
$0.00

7/1 Deposit − + 6.82 + 6.82

= 6.82

7/1 JA BizTown Delivery − 1.50 + − 1.50

= 5.32
Electronic Payment: Jack's
7/1 − 2.00 + − 2.00
Hardware
= 3.32

Ending Balance = 3.32

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Financial Literacy 19
 Money Tracker
Directions: Use a money tracker to keep track of your spending and saving.

EXAMPLE
DATE DESCRIPTION WITHDRAWAL (−) DEPOSIT (+) BALANCE (=)
$250.00

2/17 Allowance − + $5.00 $5.00

= $255.00

MONEY TRACKER
DATE DESCRIPTION WITHDRAWAL (−) DEPOSIT (+) BALANCE (=)

− +

− +

− +

− +

− +

− +

− +

− +

Ending Balance =

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NAME:____________________________________________________ DATE:___________________

Transaction Actions
Directions: Use the money tracker to record the transactions in this activity.

DATE DESCRIPTION WITHDRAWAL (−) DEPOSIT (+) BALANCE (=)

− +

− +

− +

=
Ending Balance =

Rights and Responsibilities

Responsible citizens keep careful track of where their money is
spent and how much money is deposited.

1. You received a $15.00 check from Uncle Joe. You want to deposit all of it.
Complete the deposit ticket. Your account number is 125.

DEPOSIT TICKET CASH

NAME COIN

DATE 20
DEPOSTS MAY NOT BE AVAILABLE FOR IMMEDIATE WITHDRAWAL

SUBTOTAL

SIGN HERE FOR CASH RECEIVED (IF REQUIRED)

LESS CASH
RECEIVED

JA BizTown® Bank NET

DEPOSIT $
ACCT.#

How much money do you have in your checking account now? $_____________________

Junior
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Financial Literacy 21
 2. You received a check for $18.50 for babysitting. You want to deposit the check
and withdraw $10.00 cash. Complete the deposit ticket, being sure to fill in the
“less cash received” blank, and make entries on your money tracker.

DEPOSIT TICKET CASH

NAME COIN

DATE 20
DEPOSTS MAY NOT BE AVAILABLE FOR IMMEDIATE WITHDRAWAL

SUBTOTAL

SIGN HERE FOR CASH RECEIVED (IF REQUIRED)

LESS CASH
RECEIVED

JA BizTown® Bank NET

DEPOSIT $
ACCT.#

3. You received a $25.00 check for your birthday. You deposit it into your account.
Complete the deposit ticket, and make entries on your money tracker.

DEPOSIT TICKET CASH

NAME COIN

DATE 20
DEPOSTS MAY NOT BE AVAILABLE FOR IMMEDIATE WITHDRAWAL

SUBTOTAL

SIGN HERE FOR CASH RECEIVED (IF REQUIRED)

LESS CASH
RECEIVED

JA BizTown® Bank NET

DEPOSIT $
ACCT.#

4. What is the final balance in your money tracker? _________________________________

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Direct Deposit

Direct Deposit Enrollment Form

Required information for enrolling in Direct Deposit

1
✔
_____ Yes, I would like to enroll in Direct Deposit.

Smith
______________________________________
Jennifer
________________________________________
Last Name First Name

234
______________________________________
0123456789
________________________________________
Account number Routing number

JA BizTown News
______________________________________
JA BizTown Business
This number identifies your bank.

Bank Teller
money withdrawal

funds transfer

3
Employer’s Bank Employee’s Bank

Money Tracker
DATE DESCRIPTION WITHDRAWAL (−) DEPOSIT (+) BALANCE (=)
bank

4
$0.00
2/7 paycheck − + $10.00 + $10.00 balance
= $10.00
2/9 withdrawal − $2.00 + − $2.00
= $8.00
Ending Balance $8.00

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Financial Literacy 23
 NAME:____________________________________________________ DATE:___________________

Direct Deposit Enrollment Form

If you wish to enroll in Direct Deposit, you must fill out this form.

Required information for enrolling in Direct Deposit

_____ Yes, I would like to enroll in Direct Deposit.

Your Name:

______________________________________ __________________________________________
Last Name First Name

______________________________________ __________________________________________
Routing number Account number

______________________________________
JA BizTown Business

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NAME:____________________________________________________ DATE:___________________

Gordon’s Bounced Check

Gordon wants to buy either a/an (a) _________________________________________ or a/an

(b)__________________________________________________________________________________ for

(c)____________________________________________. He doesn’t have any money saved, but

he has a checking account. His transaction register balance shows $4.56. He even

checked the amount online.

Gordon decided to go to Larry’s Store. He didn’t find a/an (a)________________________ ,

but he got a great (b) _________________________________________________________________

at a price of $24.98, including tax. He completed the check perfectly. He even wrote

(b) ________________________________________________________________ on the memo line,

adding his signature in flowery cursive.

1. Did the clerk at Larry’s Store know that Gordon only had $4.56 in his

checking account?

_______________________________________________________________________________________

2. Do retail stores ask how much money is in your account when they take

your check?

_______________________________________________________________________________________

3. Let’s think about the rest of Gordon’s story. Did (c) _______________________________

receive the (b)_____________________________________________________________________

that Gordon bought?______________________________________________________________

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 4. Did the store owner get the cash when she took Gordon’s check for $24.98 to the

bank? Why or why not?

_______________________________________________________________________________________

_______________________________________________________________________________________

5. What is the lesson of the story?

_______________________________________________________________________________________

_______________________________________________________________________________________

26 Financial Literacy
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 Banks and Saving

Rule of Law
• In England over 800 years ago, way back in the year 1215 A.D., the king agreed in
the Magna Carta that even rulers have to obey the laws of the country.
• The founders of the United States built on this idea and said that everyone was
equal under the law.
• The rule of law protects our rights and ensures everyone knows and lives by the
same rules.

The Magna Carta, or “Great

Charter,” established that there
are laws even the king must
obey—an idea we’ve come to
call “the rule of law.”

Junior
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Financial Literacy 27
 NAME:____________________________________________________ DATE:___________________

JA BizTown Payments
People can take money out of their account and pay for goods and services using a
check, a debit card, or other electronic payments.

Directions: Using today’s date and account number 083, write a personal check
for the first purchase. Then use a debit card for the second purchase. Enter the
information in the money tracker.
• a gift from the Main Street Gift Shop for $5.50
• a box of envelopes from the Business Supplies Store for $2.00

Check No.
NAME

DATE 20

i a b le
PAY TO THE

o t
ORDER OF:

No n-Neg DOLLARS

MEMO

JA BizTown® Bank
ACCT.#

JA Business Supplies Store

DATE

PAYMENT TYPE
Debit Card

PAYMENT AMOUNT

AUTHORIZATION CODE
12369

28 Financial Literacy
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 MONEY TRACKER
DATE DESCRIPTION WITHDRAWAL (−) DEPOSIT (+) BALANCE (=)

$10.00

− +
=

− +
=

− +
=

=
Ending Balance

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Financial Literacy 29
 NAME:____________________________________________________ DATE:___________________

Why Go to the Bank?

1. Why do people go to banks?

_______________________________________________________________________________________

_______________________________________________________________________________________

_______________________________________________________________________________________

_______________________________________________________________________________________

_______________________________________________________________________________________

_______________________________________________________________________________________

_______________________________________________________________________________________

_______________________________________________________________________________________

_______________________________________________________________________________________

2. Match the banking service with the correct arrow number.

1 BANK 2

STOP

3 4
Citizens JA BizTown Bank Businesses

_____ a. Becky made a deposit into her checking account.

_____ b. The JA BizTown newspaper made the last payment on its start-up loan.

_____ c. Carmen took money out of her savings account to buy a new computer.

_____ d. The utilities company deposited customer checks.

_____ e. Rick made a payment on his home loan.

_____ f. The JA BizTown grocery store received a loan to buy new shopping carts.

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NAME:____________________________________________________ DATE:___________________

Damian’s Shopping Day

a. Pick a weather description (cloudy, sunny, etc.). __________________________________

b. Pick a color. _______________________________________________________________________

c. Pick a girl’s first name. ____________________________________________________________

It was a (a) ________________________________________ day on April 3 as Damian Boachie

shopped in JA BizTown. Damian had many things on his shopping list, but he only

had a balance of $12.00 in his checking account. He wanted to buy a snack, but he

decided to save some of his money instead.

First, Damian visited an interesting shop called Baubles and bought a

(b)_____________________________________________________________________________________

necklace for his grandma. It was $3.00, and Damian used the MoneyFriend app for

his purchase. The sales clerk thanked him for his purchase and offered to wrap the

gift in colorful paper.

Then Damian visited several other stores, hoping to find his friend

(c) _____________________________________________________________________________________

a gift for her birthday. He was sure she would love some huge animal stickers, so he

gladly wrote a check for $2.50 to Stuck-on-You! when he saw that store’s display.

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 Pleased with his two purchases, Damian decided to go home. He still had many

checks in his checkbook, but he knew that what was more important was that he

still had money left in his account.

What was Damian’s final register balance?____________________________________________

Damian can use MoneyFriend again or he can write checks since he has many. Can

he write more than the balance amount? _____________________________________________

32 Financial Literacy
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NAME:____________________________________________________ DATE:___________________

Damian’s Transactions
MONEY TRACKER
DATE DESCRIPTION WITHDRAWAL (−) DEPOSIT (+) BALANCE (=)

− +
=

− +
=

− +
=

=
Ending Balance

Check No.
NAME

DATE 20

t i a b l e
-Nego
PAY TO THE
ORDER OF:

Non
DOLLARS

MEMO

JA BizTown® Bank
ROUTING #

Junior
Achievement ™
Financial Literacy 33
 Directions: Complete the fields according to Damian’s story.

Receipt – Baubles Jewelry Store

Date:

Item Description:

Purchase Price:

Payment Form:

Authorization Signature:

Total Spent:

34 Financial Literacy
Junior
Achievement
™
 Types of Payments

Payment Methods
check NAME
Check No.

DATE 20

tiable
PAY TO THE

ego
ORDER OF:

Non-N
DOLLARS

MEMO

JA BizTown® Bank

gift card
cash

Gift
card

CREDIT CARD DEBIT CARD

JA BizTown® Bank JA BizTown® Bank

Electronic Payment
electronic
payment

credit card debit card

EBT CARD
PREPAID CARD

EBT (Electronic Benefits

prepaid card
Transfer) card

Junior
Achievement
™
Financial Literacy 35
 Comparing Payments Infographic
cash
Bills and coins created by the government
• Advantages: easy to use, accepted nearly everywhere, fits
nicely in a pocket, can only spend what you have
• Disadvantages: cannot be replaced if lost or stolen, not easy to
track spending

check
Check No.
NAME

DATE 20

PAY TO THE
ORDER OF:

DOLLARS

Written order to a bank to pay money from a bank MEMO

JA BizTown Bank
®

account to a person or business

• Advantages: easy to track spending, can safely be mailed
• Disadvantages: slow to write, a lot to carry (a pen and register), money not
always taken out of bank right away not accepted everywhere

credit card CREDIT CARD

JA BizTown® Bank

Card that allows the holder to buy goods and services by

taking out a bank loan for the purchases
• Advantages: items can be purchased without having the
money to pay for them, handy for emergency purchases, convenient
• Disadvantages: possible yearly fee, interest charged on unpaid balances, can
lead to financial difficulties if misused

debit card DEBIT CARD

JA BizTown® Bank

Card that provides electronic access to a personal bank

account; along with the similar ATM (automated teller
machine) card, can be used to complete bank transactions
much like a check
• Advantages: quick and easy to use, funds immediately deducted, money
straight from your account, no bill in the future, don’t have to carry cash,
relatively safe because only you know your PIN (personal identification
number)
• Disadvantages: harder to keep track of spending, easy to lose, possibility of
identity theft, must remember your PIN

36 Financial Literacy
Junior
Achievement ™
 EBT CARD
EBT (Electronic Benefits Transfer) card
Card used to buy food by people who are eligible for
government benefits
• Advantages: easy to use at grocery stores and other
stores with food
• Disadvantages: limited amount of money to spend, rules about what types of
foods are allowable

electronic payment
Payment made using an app that allows the user to automatically
debit a bank account or charge a credit card without using a card
• Advantages: doesn’t require cash, checks, or cards
• Disadvantages: hard to keep track of, danger of identity theft, not
accepted everywhere Electronic Payment

gift card Gift

card

Card purchased in a specific monetary value to be used like

cash to purchase goods and services
• Advantages: like cash can only spend what you have
• Disadvantages: must be loaded with funds from bank (extra step), cannot be
replaced if lost or stolen, store-specific cards can only be used in one place

prepaid card PREPAID CARD

Card that allows you to spend only the amount you have
pre-deposited into that account
• Advantages: like cash can only spend what you have, can
be used to pay bills online or by phone, can be attached to a specific bank
account and loaded automatically with direct deposit, can be canceled if lost
or stolen
• Disadvantages: extra bank fees and charges, not accepted everywhere

Junior
Achievement™
Financial Literacy 37
 NAME:____________________________________________________ DATE:___________________

Rights and Responsibilities

You have a right to spend your money on what you want using the
types of payments that you like. Because of scarcity, you need to be
responsible with your money and your private property.

Pros and Cons Chart

Directions: Think about the various types of payments you have discussed in
class. Compare and contrast them by thinking about the criteria, or reasons, for
each payment method. Write Yes, No, or Usually in each box, based on whether the
payment type meets the criteria.

Alternatives Pros Cons

Payment Method Easy to Use Safe to Accepted Can Be Fees Interest Hard to
Use Everywhere Replaced If Charged for Charges on Track
Lost Use Purchases Spending

cash

check

debit card

credit card

gift card

EBT card

electronic
payment

prepaid card

38 Financial Literacy
Junior
Achievement ™
NAME:____________________________________________________ DATE:___________________

Directions: List any additional pros or cons of each payment type.

Payment Method Pros Cons

cash

check

debit card

credit card

gift card

EBT card

electronic payment

prepaid card

Junior
Achievement™
Financial Literacy 39
 NAME:____________________________________________________ DATE:___________________

Let’s Go to the Bank

Directions: As you visit each station, write a letter on each blank line to reveal your
memory word!

_____ _____ _____ _____ _____ _____ _____ _____

NAME
JA BizTown News Check No.

DATE Jan. 5 20 24
PAY TO THE
ORDER OF: 8.33
Eight and 33/100 DOLLARS

MEMO
Payroll Scott Montgomery
JA BizTown Bank ®

ACCT.# 234

DO NOT WRITE OR STAMP BELOW THIS LINE

RESERVED FOR FINANCIAL INSTITUTION USE
ENDORSE HERE

DEPOSIT TICKET CASH

NAME
Jennifer Smith COIN

8 .33
DATE
Today’s date 20 23
DEPOSTS MAY NOT BE AVAILABLE FOR IMMEDIATE WITHDRAWAL

SUBTOTAL

SIGN HERE FOR CASH RECEIVED (IF REQUIRED)

LESS CASH
RECEIVED

JA BizTown® Bank NET

DEPOSIT $ 8 .33
ACCT.# 234
RECORD ALL CHARGES OR CREDITS THAT AFFECT YOUR ACCOUNT
NUMBER DATE TRANSACTION DESCRIPTION PAYMENT/ ✔ FEE DEPOSIT/ $ BALANCE (=)
DEBIT (−) CREDIT (+)
$8.33

Check No.
NAME

DATE 20

PAY TO THE

iable
ORDER OF:

o n - N egot DOLLARS

MEMO
N
JA BizTown® Bank
ROUTING #

40 Financial Literacy
Junior
Achievement ™
The Debit Card Transaction

BANK

BANK BANK
Once the customer’s bank is
alerted, the money is subtracted
from the cardholder’s account.
BANK
BANK

Once the card is swiped at the store The merchant is notified that the
or logged in on the website, the transaction has taken place and
transaction is sent to the cardholder’s there are sufficient funds for the
bank for verification.
SALE
purchase.

SALE SALE

SALE
SALE

The cardholder begins a transaction The cardholder’s payment is

on the merchant’s website or in a complete.
store.

Junior
Achievement™
Financial Literacy 41
 NAME:____________________________________________________ DATE:___________________

Interest in Your Favor

You want a new mountain bike that costs
$400.00. You need to decide whether you want
to buy the bike now using credit, or wait and save
the money to buy the bike while earning interest
on your savings. You know that you can afford
about $16.00 per month from your allowance and
lawn jobs.

EARNING INTEREST
You decide to save $16.00 per month to buy the bike. Every month you put $16.00
into a savings account, you earn 0.9% interest, compounded monthly.

1. How many months will it take to save $400.00? ___________________________________

2. What will the balance be at the end of the savings period? ________________________
3. How much will you earn in interest? ______________________________________________

Compound Interest Calculator

current principal $16.00

annual addition $192.00

years to grow 2

interest rate 0.9%

Results

balance $403.62

42 Financial Literacy
Junior
Achievement ™
PAYING INTEREST
You decide to buy the bike now using a credit card. You will pay $16.00 per month
to the credit card company. The company will charge 18% interest to borrow the
$400.00.

1. How many months will it take to pay off the loan? ________________________________
2. How much will you pay in interest? _______________________________________________

Credit Card Calculator

current debt $400.00

interest rate 18%

your monthly payments $16.00

Results

months to pay 32

total payments $505.12

Junior
Achievement ™
Financial Literacy 43
 NAME:____________________________________________________ DATE:___________________

Personal Checks
Directions: Answer the questions using the check.

NAME
Carly Smith Check No.

DATE March 25 20 24
Fantastic Cards
PAY TO THE
ORDER OF: 3.25
Three Dollars and 25/100 DOLLARS

MEMO
birthday card Carly Smith
JA BizTown® Bank
ACCT.#
083

1. Whose name is on this checking account?_________________________________________

2. Who wrote and signed this check?_________________________________________________

3. From what bank was the check written?___________________________________________

4. To whom was the check written?__________________________________________________

5. What is the check amount?________________________________________________________

6. What is the account number?_____________________________________________________

7. Why was the check written?_______________________________________________________

8. What is the check number?________________________________________________________

44 Financial Literacy
Junior
Achievement
™
Use the check information to complete the money tracker.

MONEY TRACKER
DATE DESCRIPTION WITHDRAWAL (−) DEPOSIT (+) BALANCE (=)

− +
=

− +
=

− +
=

=
Ending Balance

Junior
Achievement
™
Financial Literacy 45
 JA Family Newsletter – Unit 1

Hello, JA Families! NUMBER DATE

RECORD ALL CHARGES OR CREDITS THAT AFFECT YOUR ACCOUNT
TRANSACTION DESCRIPTION PAYMENT/
DEBIT (−)
✔ FEE DEPOSIT/
CREDIT (+)
$ BALANCE (=)
$8.33

Your student is learning so much in our JA BizTown

program! The information about banking and
managing finances they have learned in Unit 1 will be NAME
Jennifer Smith
July 1
Check No.

24
a great foundation to managing their future finances.
DATE 20

JA BizTown Delivery
PAY TO THE
1.50
They are also seeing how what they learn in school,
ORDER OF:

One and 50/100 DOLLARS

like math, reading, and civics, relates to what they will MEMO
candygram Jennifer Smith
need to know in the real world. They also learned about JA BizTown® Bank
234
different ways to pay for things. DEPOSIT TICKET
ACCT.#

CASH

NAME
Jennifer Smith COIN

Here’s an activity you can do with your student to DATE

July 1 20 24
8 .82

reinforce the classroom lessons and bring the

DEPOSTS MAY NOT BE AVAILABLE FOR IMMEDIATE WITHDRAWAL

Jennifer Smith SUBTOTAL

8 .82
knowledge down to a personal level. Communicating
SIGN HERE FOR CASH RECEIVED (IF REQUIRED)
–2 .00
LESS CASH
RECEIVED

$
JA BizTown® Bank NET

about family finances gives kids more confidence about ACCT.# 234
DEPOSIT 6 .82

handling money.

Family Activity: Create a Spending Graph

Gather together some small markers—coins, glass pebbles, paper clips, game tokens, or any
other small objects. Stackable ones like pennies will work the best.

On a sheet of paper, make a column for each of the kind of payment your family uses to
buy the things you want and need. Payments might include PayPal, credit card, EBT, Apple
Pay, and gift card.

Talk about the kinds of things you paid for this month, whether it was rent, insurance,
phone bill, or new shoes. Place a marker in the column for the payment type you used. For
example, if Riley bought a new backpack using a gift card from Grandma, put a marker in the
column for gift card. (Feel free to add in columns as you think of other types of payments.)

Once you have thought of as many purchases and payments as you can, add them up! Were
you surprised about the payments you use the most?

Managing Money
Giving children control over money at a young age helps them be more confident consumers
as they get older. Do you give your student an allowance? Pay them for chores? If so, talk
together about where that money comes from and where it goes and how they can set up
a plan to save some, spend some, and give some to others. Even if you cannot spare the
money to pay allowance to your students right now, you can help them develop responsible
money habits by using a virtual payment system. Your bank may have one that you can use,
or you can use an app, like Bankaroo.

Bankaroo is an app developed by a father and son to help students learn more about
responsible money management: https://app.bankaroo.com. You choose how much to put
into your student's account and together you can make choices about how much to move to
savings or on what to spend their money. And it's all virtual! You don’t need to actually pay
them unless you choose to.

Junior
Achievement™
Financial Literacy Family Newsletter 47