Methods of Payment 🏦
This is what you call the money you keep aside for future use.
Savings
Name one job or chore you could do at home to earn money.
Wash dishes/sweep the floor
What do we call a place where you keep money safe?
Bank
Is a new video game a need or a want?
Want
If you have $5 and a toy costs $6, can you buy it?
No
What do we call paper money and coins?
Cash
What do we call the money you get for doing work?
Earnings or income
Name one way to save money at home.
Turn off lights when not in use, etc.
Which is a need: shoes for school or a toy robot?
Shoes for school
If you have a budget of $20 and want to buy a $15 toy, how much will you have left?
20 - 15 = $5
What is a small plastic card you can use to pay now and the money comes out of your bank account right away?
Debit card
If you earn $1 for feeding a pet each day, how much will you earn in 4 days?
$4
If you save $10 every week, how much money will you have after 6 weeks?
10 × 6 = $60
True or False — Food is a need.
True
What’s better: buying something right away or waiting for a sale?
Waiting for a sale
If you don’t have enough money in your bank account, can you still use your debit card?
No
If you want a $10 toy and you earn $2 each week, how many weeks will it take to save enough?
5 weeks
If you want a $20 book and you save $5 each week, how many weeks will it take?
4 weeks
You have $10. You need lunch ($5) and want a comic book ($6). What should you buy first?
Lunch — it’s a need
If you want to buy a new phone, should you check only one store or compare multiple stores?
Compare multiple stores to get the best deal
True or False — A credit card lets you borrow money that you must pay back later.
True
What type of currency exists only in digital form?
Cryptocurrency
What is a piggy bank used for?
Saving coins and bills
Explain why a winter coat is a need but a designer coat is a want.
A coat keeps you warm; the designer brand is extra and not necessary
You have $20. You buy a snack for $3 and a book for $7. How much is left?
$10