Methods of Payment
___ is money in the physical form, such as coins and bills.
Cash
Things you must have to survive (food, water, shelter) or to have personal success.
What are needs?
How much money do I have if I have the following:
10 dollars, 8 quarters, 3 dimes, 5 nickels and 3 pennies
$12.48
True or False: 15% of $100 is $50
False. It is $15
___ means to put money away to use in the future.
Saving
A ___ is a paper document that orders a bank to pay a large amount from your bank account to someone else's.
Cheque
Money the government charges you for buying things is called this.
What is sales tax?
A coffee costs $7 and a muffin costs $6.25. You pay $20. How much change would you get back?
$6.75
Fifty dollars ($50)
___ is giving a gift for charity, or to help a cause.
Donating
A ___ is a card that you can use to pay for purchases from your bank account. A ___ is a card that allows you to get borrow money to pay for things.
Debit Card, Credit Card
Money you owe to someone else.
A pair of roller skates costs $82.67. You pay $100. How much change would you get back?
$17.33
What is the tax on a bill of $122.50?
HST is 13%
The tax is $12.25
What does the word income mean?
Income is the money you earn from a job.
An ___ is a banking service that allows you to send/receive funds using email.
E-transfer
You go to Metro and buy a candy bar for $2.59. Then you go to Shopper's and buy a magazine for $5.35. If you started out with $20.00, how much money would you have left after going to both stores?
$7.94 cost
$12.06 change
Tickets to a movie cost $14.99 and a large popcorn costs $12. You pay with two $20 bills. How much change would you get back?
$13.01
Eden buys a pack of 12 pencils for 8.00. The HST is 13%. What will she need to pay in total?
The tax will be $1.56, so she'll need to pay $9.56 altogether.
What are 2 things to consider before making a good financial purchase?
Ex. price, quality, reviews,
___ is a type of digital or virtual currency. A famous example of this currency is ___.
Cryptocurrency, Bitcoin
Money you have to pay on top of returning what you borrow or money you earn when keeping money in a savings account.
Danielle buys a pineapple for $3 and 2 watermelons for $9.50. She pays $50. What will her change be?
$28 change: 1 twenty dollar bill, 1 five dollar bill, 1 toonie, 1 loonie (or 4 quarters)
Dora spends $86 at a restaurant, including tax, and wants to tip 15%. About how much will she leave for the tip?
The tip is $12.90, so she should leave about $13
Setting up a plan about the money that goes in and comes out of your household each month.
What is a budget?