Resources
Things that help people to achieve a goal
What is a Resource?
Something that you cannot live or survive without
Hint: N____
What is a Need?
Part of your income that you do not spend
What is Savings?
What does DIRT stand for?
Deposit Interest Retention Tax
Using your money in the hope to make a profit
What is Investing?
Savings, pocket money and grants are all examples of this resource
What is Financial Resource
Something I would like but can live without
What is a Want?
What we can do if we do not have enough money currently
B_______
What is Borrowing?
An example of a co-operative organisation
Factors to consider before investing
What is risk?
Computers and musical instruments are an example of this type of resource
What is a Physical Resource?
Water, clothes, and shelter are all examples of a ____
What is a Need?
List 2 reasons why we would save money
What is :
1. Future Wants
2. Future Needs
3. Unforeseen Events
4. Retirement
An example of a state-owned lending institution
What is An Post
Bitcoin is an example of this type of currency
What is Crypto?
Creativity, reading, and writing are all examples of this S
What is a Skill?
Designer clothes, new iPhone, and a holiday are all examples of this
What is a Want?
Post Office, Bank, and Credit Unions are all examples of places where.....
Where can you save?
List 2 reasons for borrowing
To make a purchase you cannot afford
To start a new business
To pay for college
What M is the word used to describe a long term loan on a property
What is a Mortgage?
Parents support, community, school clubs are all example of this P_______ Resource
What is a Personal Resource?
Do needs and wants change as we grow older?
Give an example of a change that happened when you moved from primary to secondary school?
Yes
Give a suitable example
An account where you can lodge and withdraw money whenever you like
What is a Demand Account?
A loan which takes between 1 and 5 years to pay back
What is a Medium Term Loan?
The extra money you get as a reward for saving
What is Interest?