Here’s CNN’s take on teaching your kid paycheck management.

Tax. The only other constant alongside death, unless of course, you live in a tax haven (Americans obviously don’t). So better give your kid that lecture differentiating gross and net. That Uncle Sam’s set to get a piece of every dollar they earn.

Banking. Now that they have their own money, teach them how to safely keep it. Money in the pocket is money that can easily be spent. Take them to the bank and have them open a savings account.

Delayed gratification. So what will your kid do with the money? Many kids will be tempted to blow their whole paycheck on the day they get it. A bit of advice on timing their spending would be most welcome.

Leeway. While the two points above this one advise trying to control how your kids spend money, give them the final say on what to do with the money. It’s their money. They need to be exposed to making financial decisions on their own.

Write the date on the date line. You may use whatever format you like as long as it is readable. If you are writing a check for immediate use, write the current date. If you wish to have the check cashed on a later date, you can write a future date. This check is called a post-dated check.

On the line that starts with, “Pay to the Order of,” or “Payable to,” write the name of the person or entity receiving your check.

Write the amount using words on the line before the word “Dollars”. For example, Sixty and 50/100 Dollars. Write the amount again in numerical form in the small space with a dollar sign ($).

Don’t forget to sign at the signature line which can be usually found at the lower right corner of the check.

Take note of the check number, date, payee and amount on the check stub at the front of your checkbook. Subtract the amount so you can keep track of the money left in your account.

If you have any void or unused checks and deposit slips, make sure that you completely destroy them so that they can’t be copied for counterfeiting.

Many small business have found the appeal of online banking primarily due to its efficiency. One feature that has helped small businesses – remote deposits. Banks are now allowing small-businesses to deposit their checks via the Internet. For business owners who often do the baking themselves, trips to the bank can be a tiresome chore.

Now, all they need to do is to scan checks to their computer and send the images to the bank and they will be processed. Hardware investments aren’t really huge. Just a computer, an Internet connection, and . Some even just allow the use camera phones.

While banks usually charge a fee for this, business owners can avail of banks’ business packages. Chances are, remote deposits can be part of the package. If not, banks usually charge a monthly fee from as low as $25 to $80. Some even provide a special scanner for an additional charge. $80 a month can easily be written off as a business expense especially if repeated trips to bank can be a cost as well.

Source: WSJ