1. Bell Work
List all of the ways you can buy or get something you need. (think of ways you have done this throughout your life)
Out of all of ways listed above how many of them did you use money? How many did you not use money?
What money is?

2. Money

3. What is money?

4. What is money? Anything that serves as a: medium of exchange
unit of account
store of value

5. Medium of Exchange
Anything used to determine the value during the exchange of goods or services

6. Unit of Account
A means for comparing the value of goods and services

7. Money as a Store of Value
Something that keeps its value when it is not used

8. Money from around the world

9. Money from around the world
Exchange rate of 35 quadrillion = $1 U.S.
35,000,000,000,000,000

10. Six Characteristics of Money
Durability
Portability
Divisibility
Uniformity
Limited Supply
Acceptability

11. Must be accepted elsewhere
Acceptability
Must be accepted elsewhere

12. Must withstand physical wear and tear
Durability
Must withstand physical wear and tear

13. Must be easily divided into smaller denominations
Divisibility
Must be easily divided into smaller denominations

14. Does not have an unlimited supply, must be controlled

15. Any two units of money must be the same
Uniformity
Any two units of money must be the same

16. Must be easily carried in every day activities
Portability
Must be easily carried in every day activities

17. Banking Today
Story time

18. What happens to the money in your savings account?

19. First - You save $1,000…

20. Then - 80% of your money is loaned to Sheldon Cooper to help him buy a car

21. The car dealership who sold cooper the car now has enough money to hire Tony McShady

22. Tony gets arrested for fraud and uses the majority of his paycheck to bail himself out of Joliet prison

23. The city of Joliet uses Tony’s bail money to help build a new public park.

24. Three days later, Little Jessica Toodles was playing on the new public park and severely broke her shoulder.

25. Jessica Toodles family had to use all of their $12,000 vacation fund on her shoulder surgery.

26. This made Jessica Toodle’s older brother, Jimmy, very angry

27. Little Jimmy headed over to the Field Museum in Chicago…

28. Out of pure anger towards his sister, Little Jimmy sets the T-Rex on fire

29. Soon, the T-Rex fire spreads throughout the entire city of Chicago

30. Because of the extensive damage, the City of Chicago refused to rebuild itself and has resulted in desertion….

31. All of this happened because you were SELFISH and decided to save $1,000. Way to go!

32. Why do we put money in a savings account?

33. What is an interest rate?
A rate that is charged to borrow money
Car loan, education loan, home loan, etc
For example:

34. Which loan should you pay off first?

35. Does a bank ever borrow money from you?
YES!!!
Savings account
Checking account
Certificate of Deposits (CDs)
Bonds
Mutual Funds
And more…

36. different ways you can buy things today