Value: How our economy is measured. Money/currency: The cash and coins we use. Treasury: controls the currency of our country. Economy: Products, people,

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Presentation transcript:

Value: How our economy is measured. Money/currency: The cash and coins we use. Treasury: controls the currency of our country. Economy: Products, people, and services that binds our country together and money is the glue. Banks: places where people hold their money or receive loans.

Types of accounts in a bank: 1.Savings 2.Checking 3.Credit 4.Investment 5.Loans

Do you remember a time when you didn’t have enough money to buy something? Why is it good to have a plan on how and what you are going to spend your money? What is a personal budget? What is a house hold budget?

Here are something's you will need to know first before setting up a budget: 1.What is your income? 2.How often do you receive it? 3.What are your Expenses? Expenses are things you have to pay for in order to live a comfortable life.

Fixed Expenses: Payments that stay the same month to month or year to year. 1. Examples: Rent, Car Payment, Student Loan Payment. Flexible Expenses: Payments that change month to month or year to year. 1.Examples: electric bill, water bill, food, gas, Discretionary expenses: These are expenses you choose to spend your money on. 1. Examples: Movies, eating out, video games.

Make a list of things you will have to spend your personal money on. Lets start with things you will only use. We will wait to figure in expenses that can be split with roommates/parents later. What are some examples of expenses you will possible have after high school?