Personal Finance.  Salary: Money paid to an employee on a regular basis  Withheld: Money held to pay taxes.  Deposit: Money that is put into your bank.

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Presentation transcript:

Personal Finance

 Salary: Money paid to an employee on a regular basis  Withheld: Money held to pay taxes.  Deposit: Money that is put into your bank  Withdraw: Money that is taken out of your bank  Disposable Income: Money you are able to spend.

S/12 = $3,000 per month Tax Rate= $ (withheld) ______________________________ $2, per month MED Insurance & Social Security --$ _______________________ Able to Deposit $2,125.00

 Living on your own  Car  Apartment / House  Insurance (Auto/Living)  Food (1 person / $ month)  Gas ($120 month)  Utilities  Fun Money!!! Shopping / Entertainment WHAT ARE WE MISSING??????

 Options to Life (Accessories)  College Education (Student Loans)  Pet (Pet Food/Vet Expenses)  Children (YOU) ▪ Child’s Education  Repairs  Weddings  Vacations  Savings  Retirement  TOYS (TVS / Pool / 4 Wheeler……ENDLESS!!! ▪ Credit Card

Things can become complicated This is why its important to learn how to manage your personal finances!!!!

Medium of Exchange / How to pay your bills

 Pure Barter System: Goods or Services exchange for other goods or services.  Medium of Exchange: an intermediary used in trade to avoid the inconveniences of a pure barter system.

 Cash - money in the physical form of currency. (Bank Note)

 Check : A document that orders a payment of money from a bank account.

 Commodity Money: money whose value comes from the commodity of which it is made.

 Credit Card: It allows the cardholder to pay for goods and services based on the holder's promise to pay for them. Pros and Cons of Credit Cards