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Money & Finance

Money & Finance. John C Bell & agnes cserhati 2011. Lesson objectives. Click to next Slide. Learn what is Money A pply our knowledge and understanding of financial matters Learn how we can manage our own money U nderstand the concept of making financial choices & decision

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Money & Finance

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  1. Money & Finance • John C Bell & agnescserhati2011

  2. Lesson objectives Click to next Slide • Learn what is Money • Apply our knowledge and understanding of financial matters • Learn how we can manage our own money • Understand the concept of making financial choices & decision • Introduce some financial tools and services such as budgeting, bank account and exchange • Understand some of the costs, risks and rewards related to managing money

  3. What is money? S/. • A medium that can be exchanged for goods and services and is used as a measure of their values on the market • The official currency, coins, and negotiable paper notes issued by a government. Source: http://www.thefreedictionary.com/money • Money is easier to use than, say, a cow or bread Click to next Slide

  4. What can we do with money? INVEST SAVE SPEND TRADE As CASH Click to next Slide

  5. How do people manage their money? Cash On-line banking Money management Bank Debit card Govt office Credit card Investment Funds :-Pension & Securities Click to next Slide

  6. Sources of finance – where do you get your money from? Bank overdraft Loan Credit cards Savings Gift from parents Earnings from job (part-time?) What are the advantages and disadvantages of the above sources of finance? Click to next Slide

  7. Budget – a financial tool An itemised summary of estimated or intended expenditures for a given period along with proposals for financing them. Source: http://www.thefreedictionary.com/money Click to next Slide

  8. Manage your money – financial service Why open a bank Account? • The money can earn interest. • An account is usually needed for a loan. • Many employers insist on paying a salary directly into an account • Accounts often come with a cheque book, a cheque guarantee card and a plastic card to pay for things (e.g. a debit card like “Maestro”). You may also get a credit card like Visa • You can pay cheques from other people into your account. Click to next Slide

  9. The Value of Money – Currency & Exchange • Money is represented by a Currency. • A Currency (eg. $, €, £ or S/.) has a value relative to other currencies • A Currency may be exchanged for another; This usually involves a cost or fee. • The purchasing (buying) power of a currency can change with time (dependant upon economic strength & stability, demand and confidence. • Money is easier to use than, say, a cow or a Slice of Toast Click to next Slide

  10. Overview … we now know !!! Click END Slide Show What is money What we can do with it How we can manage our money Some of the advantages and disadvantages of budgeting? Why open a bank account Suggested Homework – Opening a bank account

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