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Money Management


Income Money that is earned through work, gifts and other sources. Paycheck The paper statement that supplies the necessary information about your earnings ... – PowerPoint PPT presentation

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Title: Money Management

Money Management
Managing Your Money
  • Income
  • Money that is earned through work, gifts and
    other sources.
  • Paycheck
  • The paper statement that supplies the necessary
    information about your earnings and gives you the
    ability to exchange for cash.

Managing Your Money
  • Salary
  • The amount of money a person earns per year.
  • Rate of pay/Wage
  • The amount of money a person earns per hour.

Managing Your Money
  • Gross income
  • Amount of money earned before any deductions are
  • Deduction
  • Money taken from gross pay to cover specific
  • Net income
  • The money you have left over after deductions are
    taken this is what you have available to spend
    or save.

Managing Your Money
  • Organizing, printing, labeling and distributing
    every students paycheck
  • Money management
  • Using money wisely and effectively to meet your
    obligations and priorities

Managing Your Money
  • Bank/Credit union
  • A federally insured institution that will keep
    your money safe - many services are provided.
  • Cash-on-hand
  • This is the most accessible, easily spendable way
    to handle your money.

Managing Your Money
  • Savings account
  • A safe investment that will increase in
  • value at a small rate (class 10)
  • Checking account
  • Nearly as flexible as cash (class no interest)
  • Transaction
  • An exchange between the customer and the bank or

Managing Your Money
  • Deposit
  • Putting money into a bank
  • Withdrawal
  • Taking money out of a bank account
  • Transfer
  • Moving money from one place to another
  • Endorse
  • Signing your name on the back of a check that you
    want to cash

Managing Your Money
  • Balance
  • How much money is left in a bank account
  • Statement
  • A notice that shows a record of a persons bank
  • Bounced/cancelled
  • When you dont have enough money in your account
    to pay for a check you have written

Managing Your Money
  • Investment
  • Putting money into an account with the intention
    of increasing its value
  • Profit
  • Making more money than when you started
  • Loss
  • Making less money than when you started

Managing Your Money
  • Interest
  • Money added to your accounts as a bonus for
    keeping it there
  • Stock
  • Shares of ownership in a company
  • Bonds
  • A government investment shares of the government

Managing Your Money
  • Mutual fund
  • An investment with risk involved it may increase
    or decrease in value (class roll the dice for
    interest rate)
  • Certificate of deposit CD
  • A minimum investment must be made (usually
    500.-1,000.) but the interest rate is higher.
    You may not have access to the money for a length
    of time (3 mos, 6 mos, 1 yr)

Managing Your Money
  • Banker
  • Will keep records of each students bank account,
    cash paychecks, make change, process deposits,
    transfers and withdrawals
  • Investment Broker
  • Will record all investment, keep records of all
    transactions, collect and distribute money,
    calculate interest

Managing Your Money
  • Social security-
  • Federal program that provides income to those
    people unable to work
  • Dependents
  • The people you support with your salary
  • Taxes
  • Money obligated to the government state,
    federal, or local

Managing Your Money
  • Federal tax
  • Paid to the US government (class 30 of gross
  • State tax
  • Paid to the state government
  • Local tax
  • Paid to local government
  • School tax
  • Paid to local school district

Managing Your Money
  • Bill
  • Money that is owed, a payment for goods,
    privileges or services
  • Late fee/charge
  • Extra penalty money owed when bills are not paid
    on time
  • Debt
  • To be under obligation to repay money to someone

Managing Your Money
  • Loan
  • Money lent for temporary use usually a large
  • Collateral
  • Giving something to secure your loan a type of
    insurance to the person who loans the money
  • Credit
  • When you buy something now and pay for it later
  • Credit history
  • Reveals if you have paid your debts on time or not

Managing Your Money
  • Minimum payment
  • A percentage of the total balance you must pay
    each month
  • A.P.R. Annual percentage rate
  • The cost of your credit as a yearly rate
  • Fixed rate
  • An interest rate that is preset and does not
  • Variable rate
  • An interest rate that can change periodically

Managing Your Money
  • Insurance
  • Financial protection against
  • unfortunate events
  • Tax Collector
  • Calculates federal, collects money and records
    all transactions
  • Bill Collector
  • Collects all monies from students for bills,
    incentives and purchases records gives receipt
    for transactions

Managing Your Money
  • Authority
  • Watches for infractions, writes bill to offender
    follows through on payment of each bill
  • Insurance Agent
  • Provides safety insurance every payday keeps
    records of all transactions
  • Capitalist
  • Sells items in class, decides market value of
    items, writes out receipts for each item sold
    coordinates lottery, game show or other activities

Managing Your Money
  • Sentry
  • Sells red tickets on a pay day, keeps track of
    the comings and goings of students throughout the
  • General Manager
  • Collects money from all the stations at the end
    of pay day and verifies the amount is correct.
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