Understanding Money
What are the 2 units of money that makes up Australia’s currency?
Dollars and Cents
What physical thing can you use to buy food and drinks at the canteen?
Cash (notes and coins)
Convert $10 AUD to Australian Dollars
$10 AUD
What are the 4 different ways people are paid for working?
W
S
C
P
Wages
Salary
Commission
Piecework
What is it called when you put money into your bank account at the bank or ATM.
Deposit
What is Australia’s largest currently circulating banknote or coin?
$100 note
What 2 types of cards can I tap on a payment machine to pay for something?
Debit and Credit Card
Convert $20 to US Dollars.
(USD exchange rate 0.7116)
$14.23 USD
Calculate Lily's wage for working 14 hours at the nursery for $13.34 an hour.
Also, add her $20 bonus for doing the right thing and being a great worker
$206.76
What is the amount of money you have in your bank account called?
Balance
What is the system of money in general use within a specific country called? Examples are Australian Dollars, Philippine peso and UK Pound Sterling
Currency
In modern times, people can pay for things using their phones. ________ payments. (Word is opposite of analogue)
Digital Payments
Convert $123 AUD to Filipino Pesos.
(Filipino Pesos exchange rate 43.83)
P 5391.09
Lilah as a psychologist makes $120,560 a year.
How much does she make a month?
How much does she make a week?
How much does she make a day?
$10,046.67 a month
$2318.46 a week
$330.30 a day
What is it called when you take money out of your bank account? Normally into cash
Withdraw
1000% You should save up for big things you deserve and want in the future.
Car, house, holiday or any other really expensive things.
I can give the bank a piece of paper with a written amount of money on it. What is it called?
Cheque (Australian and British spelling)
Check (American spelling)
Convert 82467 JPY to Australian dollars
(Japanese Yen exchange rate 112.89)
$730.51 AUD
Lachlan sells his video game for $3,250,000. Because he used a Mirrabooka laptop, he has to give Mirrabooka a 12.5% commission.
How much money does Mirrabooka receive?
$40,625
What is it called when you move money from different bank accounts? This includes money from one of your bank accounts to another, or money from your bank account to someone elses.
Transfer
When creating a budget, what is the money you earn referred to?
What are the things you spend money referred to?
Income (also accept Net Pay)
Expenses
I can use this payment method to pay for something in instalments.
For example, if I buy a toy worth $60. I can pay $15 four times to pay it off.
Provide an example if you cannot think of the name.
Buy Now, Pay Later
Examples:
AfterPay
ZipPay
Convert £2302 (UK Pound Sterling) to Australian dollars.
(UK Pound Sterling exchange rate 0.5230)
$4401.53 AUD
Sean makes and sells:
114 burgers (sells each burger for $3.50)
72 sausage rolls (sells each sausage roll for $2.80)
87 milkshakes (sells each milkshake for $4.35)
How much does Sean make?
$979.05
Where can you perform banking activities?
Physical bank or Online banking