Money, Banking and Employment

What is the definition of Money

• What you use to buy things

• What you need to survive

• medium of exchange

• Something that makes you happu

What is an Asset?

• A useful or valuable thing, person, or quality.

• Something you owe

• Money that you spend

• Credit Card payment

What is a Liability?

• Bills you have to pay

• Things you own

• Something you owe and have to pay

• Money you save in the bank

A plan on how to spend money including expenses and income

• Expenses

• Income

• Needs

• Budget

 

The money someone earns and puts in their account

• Expenses

• Income

• Withdrawal

• Needs

Things you must have in order to live such as air, water, food, and shelter

• Needs

• Wants

• Income

• Budget

 

Things people desire but are not necessary for living

• necessitates

• Demand

• Wants

• Budget

An employee who is paid monthly is paid _______ times a year

• 7

• 12

• 24

• 10

 

What is an annual salary?

• Income you earn over the course of a year

• What you are paid each month

• Bi-weekly Pay

• Weekly Earnings

What is Interest?

• Excite the curiosity or attention of someone

• Money paid to a bank above the amount of the loan you borrowed