money sense review class
TRANSCRIPT
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ORADEA
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Banks
1) Keep the money at home
2) Buy what do you want
3) Open a Bank Account
ORADEA
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Banks
1) Keep the money at home
2) Buy what do you want
3) Open a Bank Account
But what Banks is about?
ORADEA
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Banks
• The bank is a credit instution that has
as main object of activity the attractionof deposits and the offer credit on one’s
own account.
ORADEA
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Banks
• Types of credit institutions:
– Banks;
– Cooperatist credit organizations;
– Savings and credit banks in the housing field;
– Mortgage credit banks;
– Institutions that issue electronic money.
ORADEA
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BNR
• National Bank of Romania
What is National Bank about??• Independent
• Main goal
• Issue of the bank notes and coins as legalmeans of payment
ORADEA
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Deposits
• Types of deposits
– Current Deposit
– Term Deposit
ORADEA
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• Types and fuctions of bank cards
– Credit Card
– Debt Card
– Shopping Card
– Loyalty Card
Bank Cards
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Bank Cards
• VISA x VISA Electron
• MasterCard x Maestro
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Account Balance
• Statement
– A bank statement is a basis record of how much
money has been paid into your account and howmuch you have spent from your account anddetails of each transaction.
ORADEA
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• Statement
ORADEA
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Account Balance
ORADEA
1. How much money does Alina Ionescu have in heraccount at the beginning of August?
2. How much money has she spent on music this month?
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Account Balance
ORADEA
1. How much money does Alina Ionescu have in heraccount at the beginning of August?
2. How much money has she spent on music this month?
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Account Balance
ORADEA
1. How much money does Alina Ionescu have in heraccount at the beginning of August?
2. How much money has she spent on music this month?
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Account Balance3. How much was the bill (direct debit) for the mobile
phone?
4. How much did she withdrew during August 20th – August
31st?
ORADEA
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Account Balance3. How much was the bill (direct debit) for the mobile
phone?
4. How much did she withdrew during August 20th – August
31st?
ORADEA
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Account Balance3. How much was the bill (direct debit) for the mobile
phone?
4. How much did she withdrew during August 20th – August
31st?
Total: 119,42
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Account Balance5. What is her overdraft at the end of the month?
6. Can you suggest a way for Alina to cut down her expenses?
ORADEA
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Account Balance5. What is her overdraft at the end of the month?
6. Can you suggest a way for Alina to cut down her expenses?
ORADEA
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Account Balance5. What is her overdraft at the end of the month?
6. Can you suggest a way for Alina to cut down her expenses?
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What is OVERDRAFT?
Account Balance
ORADEA
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What is OVERDRAFT?
• Temporary loan
• Salary
• Limit
• Withdrawing cash, Card payments
• Interests
• + 18
Account Balance
ORADEA
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Money Sense
ORADEA
10 minutes
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Loans
• What is loan?
• Why people take a loan?
• Where can you get a loan?
• Do you think you will take a loan in the future?
ORADEA
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• What is Bussiness plan?
• For what I can use it?
• What are the benefits?
Bussiness Plan
ORADEA
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• Who are your competitors?
• What are the advantages of your competitors? What are
the advantages of your bussiness?
• Why the costumers should choose your product?
• How much your product/service will cost?
• How much you will earn every month?
• What are you fix costs? What about the variable costs?
Bussiness Plan
ORADEA
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SWOT
ORADEA
Strengths Weaknesses
Opportunities Threats
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Cafeteria Project
• Roles of team members
• 15 minutes to have a creative idea about a
café shop• 5 minutes to present your idea in front of
others
ORADEA
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Cafeteria Project
Project Manager• Manage team members and chair all team
meetings
• Supervise the time management of the team• Work with the Marketing Manager on
persuading key people to attend the launch.
• Plan and lead the final presentation
ORADEA
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Catering Consultant• Research menus
• Make recommendations about the final
menu• Cost the menu options
• Contribute to team meetings and take part in
final presentation
ORADEA
Cafeteria Project
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Finance Officer• Complete the costing sheet
• Check that all ideas fall within budget
• Provide details of launch costs usinginformation provided
• Contribute to team meetings and take part in
final presentation• Prepare budget
ORADEA
Team
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Marketing Executive• Come up with creative ways to promote your
coffee shop on the launch night
• Work with the Project Manager to persuadekey people to attend the launch
• Contribute to team meetings and take part in
final presentation.
ORADEA
Team
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ORADEA
The Annual Percentage Rate(APR)
• Interest rate for a whole year (annualized), rather than
just a monthly fee/rate, as applied on a loan, mortgage
loan, credit card, etc.
APR Time Period
10% 12 months
10% 24 months
10% 36 months
35% 12 months
35% 24 months
35% 36 months
Δ= S (1+ r)² - S
Total Amount x APR = Interest
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ORADEA
Lenders
Types of money lenders:
A) The Bank
B) The Credit institutionC) The doorstep lender
D) The Credit Card
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Debt
ORADEA
• What is debt?
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Debt
ORADEA
• What is debt?
It’s an obligation owed by one party (the debtor)
to a second party, the creditor; usually this refersto assets granted by the creditor to the debtor.
In modern society, in most cases, of the original sumplus interest.
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Debt
ORADEA
• Is debt always a bad thing?
Advantages X Disadvantages
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Debt
ORADEA
• National issue
Why do you think debt is such an important issue inthe news?
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ORADEA
Budget
How to manage your pocket money?
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ORADEA
Budget
•Think about your routine weekly.
How much do you usually spend?
In what? (Incomes / Outcomes)
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Silvia’s Budget
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ORADEA
Budget
Do you think Is it possible you reduce your spends?
What about your monthly spends?
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ORADEA
Financial Terms
1. Bank loan
2. Credit Bureau
3. Doorstep lender
4. Credit card
5. Pawn broker
6. APR
7. Loan insurance
8. Authorized overdraft
9. Credit Institution
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ORADEA
Financial Terms a. Someone who contacts the debtor in delay of payments. Together with the
debtors searches for solutions to repay the debt.b. An organization that provides real, updated and accurate information concerning
natural persons which have taken out loans from banks or finance companies.
c. Loan of money from the bank to be repaid with interest by an agreed date.
d. Licensed companies who visit homes and offer to lend money at high rates of interest.
e. An agreed amount by which your bank account can be overdrawn.
f. Total costs of a loan in a percentage form.
g. A plastic card issued by a bank destined for the facilitation of the payments toretailers (using the credit limit given by the bank) .
h. A company that makes loans to individuals or businesses.
i. Coverage for the repayment of the loan in case you
cannot pay the repayments, for which coverage the
debtor pay a monthly installment.
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Multumesc Mult!!!See you on Closing Event
Thursday at 17:00at Aurel Lazar High School