Terms
What is a business where people can safely keep their money?
Banks
Invest
to put money, into something to make a profit or get an advantage
What are some slang terms for money?
Moolah, Cash, Bucks, etc…
What are some successful ways to save money?
Plan, determine wants vs needs, set goals, etc.
What does it mean to save?
Saving means putting money aside for a future use.
deposit
to put money in a bank
Who is on the 100 dollar bill?
Dr Sun Yat-sen
What is some ways you can make money? *Make sure its school appropriate
What is a budget?
Budgets are personal plans for spending and saving your money
withdraw
to take or remove money from a bank
True or False? There is more Monopoly money printed every year than actual cash.
True
When is a good time to start planning for your goals after high school?
It’s always a good time to begin planning for your future!
What do you think debt is?
Debt is money you owe. When you owe someone money, you have a responsibility.
Credit card vs Debit Card
Debit cards allow you to spend money by drawing on funds you have deposited at the bank. Credit cards allow you to borrow money from the card (bank)
What is the largest bill that has been printed?
$2000 bill
What are some good financial habits to have to help you reach your financial goals?
Building a savings plan, making a budget, avoid owing money to others, avoid impulse spending, and invest in your future
What is a loan?
When you borrow money with the intent to pay it back
Auction
a usually public sale of goods or property, where people make higher and higher bids.
True or False - A dollar more to manufacture than it is worth.
True
Explain the difference between want vs a need you may see in the future, give examples of both.
Needs would be defined as goods or services that are required. This would include the needs for food, clothing, or shelter. Wants are goods or services that are not necessary but that we desire or wish for such as going to the movies, buying a video game, or buying a computer or iPad.