Money Basics
The most powerful currency in the world
What is $USD
___is king
Credit
at a reduced price
on sale
To take money out of the account
withdraw
The fastest way to grow your money
Investing
Depreciates the value of your money over time
What is inflation
The slave to the lender
the borrower
Way too expensive for what it is
a rip-off
money that you owe to a person or bank
debt/loan
a card that lets you pay with the money you already have in your bank account.
a debit card
The school subject that teaches you about the American finance system
What is Economics
What is the legal age in US for a person to work for money?
14
very cheap compared to the value
a steal
spend a lot of money on something special
splurge
two common bank accounts in the US
checking account and savings account
In general, what age are you considered financially Grown in Korea?
early 30's (30-34)
How much do you need to be considered financially free in America?
What is 1 million
the most value for your money
the best bang for your buck
a person who is too cheap and doesn’t like to spend money
cheapskate
Korean banks protect customer's money up to this amount
50,000,000 KWN
What percentage of adults in Korea trade stocks?
33% or 1/3 of adults
How old do you have to be to own your own investing account in America
11 days old
a person who looks for discounts and low prices
bargain hunter
someone who lends money illegally and charges very high interest
loan shark
How do you read 1,000,000,000,000,000?
Quadrillion