Main Forms of Payment
Mostly used to pay for smaller purchases. This form of payment involves bills and coins.
Cash
This is an app on a device that has a bank account linked to it. When we tap our smart phone or watch to a company's sales machine, the money is taken from our bank account and sent to the company's bank account.
Electronic Wallet
If I buy a soccer ball for $25.70 and pay with a $50.00 bill, how much change will I get back?
$24.30
A ______ is a plan that lists the money you earn and the money you spend over a particular length of time.
Budget
What is the unit rate: 8 dollars for 4 burgers.
2 dollars per burger
A card given by banks that allows you to borrow money.
Credit Card
When you ask a bank to send your money to another bank in Canada or around the world. This type of transfer is very secure and usually used to pay for very expensive things.
Wire Transfer
If I buy a card for $1.60 and pay with a $20.00 bill, how much change will I get back?
$18.40
______ means you are allowed to borrow a certain amount of money.
Credit
What is the unit rate: 49 dollars for 7 lattes.
7 dollars per latte
A card that allows you to pay for things out of your bank account.
Debit Card
When money is automatically sent to our bank account.
Automatic Deposit
If I buy a shirt for $76.80, how much change will I get back if I paid with a $100.00 bill?
$23.20
______ is the unpaid money that you owe.
Debt
What is the unit rate: 250 dollars for 5 video games.
50 dollars per game
A piece of paper that is signed by an individual and given to someone else as a payment for something.
Cheque
When money is automatically taken from our bank account.
Automatic Payment
If I buy new bed sheets for $120.75. How much money will I get back if I pay with a $100.00 bill and a $50.00 bill?
$29.25
Give me 5 examples of things we NEED.
Water, Shelter, Food, Clothing, Electricity, Transportation, etc.
If the unit rate for an item is $7.50, how much will I spend if I buy 5 of those items?
$37.50
When we send money electronically. These are often in the form of email.
EMT/e-transfer
This type of currency exists only in digital or virtual form.
Cryptocurrency
If I buy a gym membership for $336.82 for the year and pay with four $100.00 bills, how much change will I get back?
$63.18
__________ means we are spending money in hopes to make more money.
Investing
If the unit rate for an item is $15.50, how much will I spend if I buy 4 items?
$62