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Get Paid
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.
Salary: $36,000.00
S/12 = $3,000 per monthTax Rate= .25 -- $750.00
(withheld)_____________________________
_$2,250.00 per monthMED
Insurance & Social Security
--$125.00
_______________________
Able to Deposit $2,125.00
What does that money go to???? Living on your own
Car Apartment / House Insurance (Auto/Living) Food (1 person / $180.00 month) Gas ($120 month) Utilities Fun Money!!! Shopping / Entertainment
WHAT ARE WE MISSING??????
What does that money go to???? 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
Conclusion
Things can become complicated
This is why its important to learn how to manage
your personal finances!!!!
Barter System
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.
Mediums of Exchange
Commodity Money: money whose value comes from the commodity of which it is made.
Mediums of Exchange
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