YEAR 9 HUMANITIES REVISION SHEET - MONEY MATTERS

Deez nuts

Money

Coins and banknotes that are used to buy things, or an amount of these that a person has. It is also a store of value and a measure of wealth.

Fiat money

Money declared by a government to be legal tender. However, this money is standardized from one country to another via exchange rates to ease foreign trade.

Savings

The money you keep, especially in a bank or an organization.

Cryptocurrency

A digital currency produced by a public network, rather than any government, in which uses cryptography to make sure payments are paid and received safely.

Credit

Money you borrow from a financial institution, such as a bank or credit union, to spend the way you want. You need to repay this debt to the credit provider, usually with extra costs on top of the amount you borrowed.

Scam

A fraudulent scheme designed to deceive individuals or organizations, often for financial gain, causing harm or loss to victims through deception or misrepresentation.

Hard currency

A stable, widely accepted currency that holds its value and is used in international trade and finance, often associated with economically strong nations.

Risk

The possibility of something bad happening.

ADI

An authorized deposit-taking institution. ADIs are financial institutions licensed by APRA – Australian Prudential Regulatory Authority.

Shareholder

A person who owns portions of a company and therefore is entitled to make decisions regarding the company, and is also entitled to profits based on how much portions of the company they own.

Saving

The practice of preserving money for future needs or goals, fostering financial stability and security.

Investing

Buying an asset with the expectation that your investment will make money for you.

Dividend

Part of the profit which is paid to the people who own shares in it.

Capital Improvement

An addition/change made to land, equipment/building that increases its value or the profit it produces.

Return on Investment

A measure of an investment's profitability, calculated by dividing gains or net profits by the initial capital or cost of investment.

ASX

The Australian Securities Exchange, a major securities market in

World’s Oldest Currency

British Pound

What is good debt?

Debt incurred for investments with the potential to increase wealth

What is bad debt?

High-interest consumer debt that does not generate wealth or appreciating assets

What are the advantages of using credit cards?

convenience, rewards programs, and ease of online transactions.

What are the disadvantages of using credit cards?

high-interest rates, potential debt accumulation, and fees.

ANZ

Australia and New Zealand Banking Group Limited

NAB

National Australia Bank

Westpac

Westpac

Commonwealth Bank

Commonwealth bank

3 Types of Investing

Real Estate, Shares/Stock, Capital Improvement