CHAPTER 5 PLANNING OUR MONEY

Money is .........................

• A medium of exchange that has a value to sell things

• A medium of exchange that has no value

• A medium of exchange that has a value to buy and sell things

................. is how goods and services are directly exchanged for other goods and services without the use of money

• Barter

• Better

• Butter

An ................... is money that is earned over a given period of time

• Effort

• Barter

• Income

To earn money, we need to ..........

• Make a wish

• Work

• Sing a song "I want money money"

A ............... is a sum of money received regularly, usually weekly or monthly for the services and contributions that a person provides.

• Salary

• Angpau

• Expenditure

................ is keeping track of exactly how much money is earned and spent

• Budgeting

• Day dreaming

• Calculating

Money is one of scarce resources.

• True

• False

Why is budgeting important?

• To control our spending, to track our expenses & to show off to people

• To prevent overspending, for emergencies & for doing good deeds

• For doing good deeds, to make others feel jealous of us & to buy him/her a house

We use money to buy ............

• things we want

• things that we need and want

Where does money come from?

• Sky, ocean and trees

• Salary and stealing

• Pocket money and allowance as well as salary