 A holding place for money at a bank.  The amount available to spend in an account.

Slides:



Advertisements
Similar presentations
Budget. A financial plan drawn up for an individual, a family, a business or a government. It is usually for a period of a month or a year. Done right.
Advertisements

Credit. Borrowers & Lenders Find Your Match! Whos Your Middle-Man???
Good vs. Bad Credit Credit – the ability to borrow money and pay it back later. Good credit means: Lenders want to loan money to you because you have.
Chapter 19 Lesson 2 Budgeting Your money.
Earning Money  What is income and what are 3 possible sources?  Income is money that you have available to you to spend  3 sources: babysitting,
Teacher Instructions 1.Print the lesson, 2.Display slide 2 with Procedure step 1 in the lesson. 3.Display slides 3 and 4 with Procedure step 4 to use as.
Introduction to Business and Marketing Chapter 26.2.
Simple Interest I =Prt I = Interest P = Principle r = rate t = time
Simple Interest Day 2 Formula I = PRT.
INTEREST What does that mean?. What interest would anyone have in lending you money?
Earning Credit. Compelling Question Have you ever borrowed money from someone and not repaid it? Or has anyone ever borrowed money from you and not repaid.
Calculating Simple Interest
Simple Interest 7th Grade Math.
Simple Interest Formula I = PRT.
CALM.  Able to buy needed items now and pay later.  Don’t have to carry cash  Creates a record of purchases  More convenient than writing cheques.
Teens 2 lesson seven understanding credit presentation slides 04/09.
Consumer Banking Dollars and Sense. Interest Rates – Rules of Commercial Banks – Interest rates charged for loans higher than Savings Banks and interest.
Back to Table of Contents pp Chapter 26 How to Get and Keep Credit.
Unit 5 Microeconomics: Money and Finance Chapters 10.3 Economics Mr. Biggs.
HOW CREDIT CARDS WORK What you need to know about credit cards- including what credit cards companies can and can’t do, and what information they have.
SECTION 2: WHAT IS CREDIT Unit 6: Credit. I Can: Differentiate Credit Cards from Debit Cards Describe the importance of APR Define and apply: credit limit,
Have you set sail into the Sea of Credit Card Debt? TSCPA Member, CPA Company/Firm Name.
Going into Debt. Americans and Credit What is credit? What is credit? Receiving funds directly or indirectly, to buy goods and services w/ promise to.
LSP 120 Financial Matters. Loans  When you take out a loan (borrow money), you agree to repay the loan over a given period and often at a fixed interest.
Teen Living Objective Identify Sources of Income and Types of Spending.
Chapter 4: Going into Debt
Banking. What does the banker do? Banking Financial Institution permitted to – hold savings deposits – offer loans and mortgages – issue credit rating.
1.5 Choosing to borrow money. Why borrow? People’s spending needs change over their personal life cycle so it is often necessary to borrow money by means.
Lesson 16: Using Credit.
Financial Literacy Vocabulary Terms How is money used in society? How do I pay for goods and services? How do I keep track of my saving and spending? 1.
Simple Interest And Methods of Payment. * Whenever money is borrowed, the borrower (an individual, organisation or community) pays the lender (a bank.
Section 4C Loan Payments, and Credit Cards Pages C.
Unit 03: Financial Literacy Vocabulary. Available Balance The amount available in an account for a person, business, or organization to spend. How much.
Interest on Loans Section 6.8. Objectives Calculate simple interest Calculate compound interest Solve applications related to credit card payments.
Advantages of using credit cards Ability to use item while paying for it No need to carry cash Use of card builds credit history Quick source of funds.
Payment Methods and Credit. In This Lesson: 1.Compare the advantages and disadvantages of using various payment methods. 2.Differentiate between a debit.
WOW 5.  Checking account: A banking service wherein money is deposited into an account and checks are written to withdraw money as needed Example: Used.
Credit What YOU need to know!. What is Credit? Credit is borrowing money now to make an immediate purchase and promising to repay it later.
 Credit  Equity  Credit: the ability to borrow money in return for a promise of future repayment. Future repayment usually includes interest.
Interest (ing) Notes How to Calculate Simple Interest 2/11/10 Pre-Algebra.
An agreement to provide goods, services, or money for future payments with interest by a specific schedule; the use of someone else’s money for a fee.
Credit. What is it? – the ability of a customer to buy goods or services before paying for them, based on an agreement to pay later. Always investigate.
Unit 5: Personal Finance Services of the Bank  Place to store your money safely – an Account.
 What are advantages of credit  What are disadvantages of credit.
MONEY 101. Types of Bank Accounts  Savings—long term money storage  bank pays you interest = $$ can grow!  Checking—used for everyday usage (deposits.
Buy Now, Pay Later – Where’s the Catch?. What do you think...  If you ever wanted to get a loan or a credit card what would you have to do?  Could you.
Using Credit SSEPF4.a, SSEPF4.b, SSEPF4.c. Loans and Credit Cards: Buy Now, Pay Later The U.S. economy runs on credit. Credit – The ability to obtain.
HOW TO GET AND KEEP CREDIT. PICKING A CREDIT CARD You will have to fill out an application. It will ask about where you live, where you work, what other.
What does this mean to you?. FCS 7 TH GRADE Money Management.
Simple Interest. Simple Interest – * the amount of money you must pay back for borrowing money from a bank or on a credit card or * the amount of money.
Simple Interest Formula I = PRT. I = interest earned (amount of money the bank pays you) P = Principle amount invested or borrowed. R = Interest Rate.
Credit is the privilege of using someone else’s money for a period of time and is accepted as a substitute for cash Creditor is any person/ business that.
Checking Savings BANKING. Checking Account 90% of transactions involving money are made through some form of debit.
Today’s Schedule – 11/28 PPT: Money Supply & Banking Rdg: Pitfalls of Credit Card Debt Bonus Quiz: Money HW: Read 17.2/17.3 Start Studying for Unit 5 Test.
Using Credit Wisely Types of Credit Credit Card Allows user to charge amounts in different places Given a credit limit, or maximum amount you can.
Miss Smith 7 th Grade Civics *pgs  Currency- _____ and paper _____  3 common features:  _____ to _____  _______  Have a ________ form and.
Credit Credit: borrowing money to pay for something now while promising to repay it later. Lender: the person loaning the money Borrower: receives the.
Back to Table of Contents pp Chapter 26 How to Get and Keep Credit.
Pre-test.  A. Your age  B. The length of time you have had the card  C. The amount of money you owe on your credit card  D. The terms and conditions.
Money, Banking, Saving, and Investing Key Terms. bank A business whose main purpose is to receive deposits and make loans.
Chapter 7 Buying Decisions. Slide 2 Where Can Consumers Get Credit? Credit is the ability to borrow money and pay it back later. 7-2 Getting Started with.
Mr. Roseman.  Functions of Money:  a medium of exchange able to trade it for goods/services  a store of value  a measure of value  Types of Money:
 Income from work- wages (paid by hour or unit of production) or salary (paid weekly, monthly, yearly)  Income from wealth- things you own- bank accounts,
Types of Credit. Loans Borrowing a specific amount for a certain period of time.
You and Your Credit UNIT VII – Personal Financial Literacy.
Credit The Good, the bad, and the ugly. CREDIT CREDIT CAN MAKE OR BREAK YOUR FUTURE PLEASE PAY ATTENTION TO THIS IMPORTANT LIFE LESSON – IT IS SERIOUSLY.
Credit Test Review. What card takes money directly from your checking or savings account?  Debit Card.
Why Credit Matters?. Do Now  What was your last purchase and how did you pay for it? Did you use cash, debit credit or check?  What are the differences.
Consumer Economics Credit Credit Investing Investing.
MR. Kiser – Financial Literacy  Default – This happens when a borrower fails to pay the debt owed  Credit – Allows you to buy goods or services.
Presentation transcript:

 A holding place for money at a bank.

 The amount available to spend in an account.

 An institution for saving, borrowing and investing money.

 Dividing available money into spending categories.

 A bank account that allows you to write checks and is attached to a debit card.

 A person who takes responsibility for an agreement (loan) if the person who takes the loan fails to pay on time.

 Buying goods on time and paying the money back with interest.

 An official document that describes a person’s credit history and ability to pay back loans on time.

 A number made up of several factors that tells how credit- worthy (reliable) a borrower is.

 An amount of money or goods a person owes

 A card linked to a checking account that can be used in stores.

 Amounts that need to be paid for month to month living.

 The amount charged for borrowing money over time.

 To accumulate money in order to make profit.

 To borrow goods (housing, cars, etc…) for a specific amount of time by contract.

 Borrowing money to be paid back with interest over time.

 A loan on a house.

 A job

 Money paid for performing work at a business.

 To provide money to lower personal debts.

 A payment that has been made but has not been fully processed by the bank.

 The original amount of money borrowed before interest is added.

 A REGULATED PAY THAT STAYS THE SAME EVERY PAY PERIOD REGARDLESS OF HOURS WORKED.

 A bank account that draws interest over time.

 A purchase at a store.