Having your own checking account gives you security and flexibility cash cannot. There’s no reason to carry money with you when you can access it with your debit card or write a check to cover expenses.

Many banks today offer free or inexpensive checking accounts for teens. Shop around to see which bank has the best deal on checking accounts. If your checking account isn’t free, find out how much your monthly fee will be, as well as any other charges, and note it in your register each month.

Track Your Account

Each box of checks comes with a register. Use it to keep track of payments, purchases and deposits. Keep the balance in your register accurate and up-to-date. Each time you use money from your account -- by check, debit card or ATM withdrawal -- update it.

No Rubber Checks!

If you write a check or use your debit card to pay for something and there isn’t enough money in your account to cover the cost, your bank will charge you a hefty insufficient funds fee, usually between $20 and $40. This is called “bouncing” a check. This will also negatively affect your credit rating. To avoid this, balance your checkbook regularly and never write a check when you don’t have enough money in your account to cover it.

Six Simple Steps for a Balanced Account

Follow these steps when you record a check in your register:

1. Write the number from the right corner of your check
2. The date you wrote the check
3. Who you wrote it to
4. Write the amount of the check in the payment box
5. Subtract the amount of the check from previous balance
6. Write new total in the balance section