History of Money
How did people get things before money existed?
They used to barter things. They used to exchange things with each other. For example, I give you apples, and you give me milk.
What are expenses:
Money you spend on things.
With whom can I share my card PIN and my passwords
With no one. They are like toothbrushes, that is, they are personal and to be used only by me and changed now and then.
This short secret code helps protect your card when using an ATM or paying.
PIN
What is investing?
Putting money and hoping that it grows over time.
What was the Currency of Malta before the Euro
The Maltese Lira
What are “Income” and “Expenses”, and why are they important in money?
It’s the money you earn and the money you spend, and they are important as you need to have control over this. With money, knowing how much you are “bleeding” is important.
What is the padlock icon on the website?
This symbol helps show a website is secure.
How does a loan work?
A loan works by borrowing money from a bank or lender and paying it back over time, usually with extra money called interest
What is a share/stock?
Buying a small part of a company is buying this.
What materials or commodities were people paid with before money existed?
Before money existed, people were paid or traded with goods such as salt, shells, cattle, grain, and other valuable items.
What are interests?
Extra money paid when borrowing money.
Banks ask for your password via telephone. True or False?
False. Banks will never ask you for your personal information via phone
What is the Central Bank?
The central bank is the main bank of a country that manages money, controls inflation, and helps keep the financial system stable.
What is a bond?
A bond is when you lend money to a government or company, and they promise to pay you back later with interest
What are cryptocurrencies?
Cryptocurrencies are digital forms of money that exist online and use technology to make secure transactions.
What is a budget, and why is it important?
It helps you to plan your income and how you will spend and save your money.
How can you realise if something is a scam?
If something seems too good to be true, asks for personal details, creates urgency, or comes from an unknown source.
What is the difference between credit and debit cards
A credit card let’s you borrow money to pay later. A debit card uses money already in your account.
What is Inflation?
Inflation is when prices rise over time, so money buys less than before.
When did paper money start to be used?
Paper money started to be used in China around the 7th century. People started to make use of money as it was getting to carry or store your commodities like salt, pepper, gold etc
What do we understand by Needs and Wants?
Needs are things we have to spend money on, like food, bills, rent, etc. Wants are things we can live without but still choose to spend money on.
Why do scammers make you act fast?
Scammers make you act fast, so you do not have time to think carefully or check if it is real
What is a credit score?
A credit score is a number that shows how trustworthy someone is at repaying borrowed money.
What is diversification?
Spreading money across different investments
Spreading money across different investments