Subjects

Careers

Open the App

Subjects

Cool Things Money Does and How You Can Use It

Open

1

0

E

Elise Banjo

3/22/2023

Accounting

unit 1 financial studies

Subjects

/

Accounting

/

Personal Finance

/

Personal Finance

Cool Things Money Does and How You Can Use It

Money serves as a crucial medium of exchange in modern economies, facilitating transactions and storing value. The content covers Functions and features of money in economic exchange, Personal life cycle and financial milestones, and Different methods of making payments and their benefits.

• Money evolved from barter systems to solve the double coincidence of wants problem
• Key features include portability, durability, and universal acceptance
• Life cycles impact financial decisions from early education through retirement
• Modern payment methods range from traditional cash to digital solutions
• Banking services have evolved to accommodate various transaction needs

...

3/22/2023

85

topic 1 Purpose of money Bastening is someone exchanging the goods or Services they prodies with someone else who has goods and Services to

View

Life Cycle and Financial Planning

Understanding personal life cycles is crucial for financial planning, with different stages presenting unique financial challenges and opportunities. The timeline spans from early childhood through retirement, with various milestones affecting financial decisions.

Vocabulary: Life expectancy - the average number of years a person is expected to live currently83forfemales,79formalescurrently 83 for females, 79 for males.

Highlight: External factors such as pandemics, recessions, and demographic changes can significantly impact financial planning.

Example: Career development typically occurs between ages 20-60, affecting income patterns and investment choices.

topic 1 Purpose of money Bastening is someone exchanging the goods or Services they prodies with someone else who has goods and Services to

View

Payment Methods and Banking

Modern banking offers diverse payment methods to suit different needs and preferences. Each payment method has distinct advantages and considerations for users.

Definition: Standing Orders are regular, fixed payments set up by the account holder, while Direct Debits are variable payments authorized by the account holder but controlled by the receiving organization.

Highlight: Digital payment methods like online banking and contactless cards have revolutionized transaction convenience.

Example: A contactless card payment limit of £30 provides convenience while maintaining security.

topic 1 Purpose of money Bastening is someone exchanging the goods or Services they prodies with someone else who has goods and Services to

View

Banking Services and Account Types

Banking services have evolved to offer various account types catering to different customer needs. Current accounts serve as the foundation for day-to-day banking activities.

Vocabulary: APR AnnualPercentageRateAnnual Percentage Rate - the yearly interest rate charged on overdrafts and credit products.

Highlight: Modern banking includes branch, internet, and telephone banking options for customer convenience.

Example: Student accounts often come with special features like interest-free overdrafts to support educational expenses.

Similar Content

Know business - PESTEC thumbnail

14

163

S4

business - PESTEC

external factors

Can't find what you're looking for? Explore other subjects.

Knowunity is the # 1 ranked education app in five European countries

Knowunity was a featured story by Apple and has consistently topped the app store charts within the education category in Germany, Italy, Poland, Switzerland and United Kingdom. Join Knowunity today and help millions of students around the world.

Ranked #1 Education App

Download in

Google Play

Download in

App Store

Knowunity is the # 1 ranked education app in five European countries

4.9+

Average App Rating

21 M

Students use Knowunity

#1

In Education App Charts in 17 Countries

950 K+

Students uploaded study notes

Still not sure? Look at what your fellow peers are saying...

iOS User

I love this app so much [...] I recommend Knowunity to everyone!!! I went from a C to an A with it :D

Stefan S, iOS User

The application is very simple and well designed. So far I have found what I was looking for :D

SuSSan, iOS User

Love this App ❤️, I use it basically all the time whenever I'm studying

Subjects

Accounting

Personal Finance

Personal Finance

 

Accounting

•

85

•

Mar 22, 2023

•

4 pages

Cool Things Money Does and How You Can Use It

E

Elise Banjo

@elisebanjo_ddoz

Money serves as a crucial medium of exchange in modern economies, facilitating transactions and storing value. The content covers Functions and features of money in economic exchange, Personal life cycle and financial milestones, and Different methods of making... Show more

topic 1 Purpose of money Bastening is someone exchanging the goods or Services they prodies with someone else who has goods and Services to

Sign up to see the contentIt's free!

Access to all documents

Improve your grades

Join milions of students

By signing up you accept Terms of Service and Privacy Policy

Life Cycle and Financial Planning

Understanding personal life cycles is crucial for financial planning, with different stages presenting unique financial challenges and opportunities. The timeline spans from early childhood through retirement, with various milestones affecting financial decisions.

Vocabulary: Life expectancy - the average number of years a person is expected to live currently83forfemales,79formalescurrently 83 for females, 79 for males.

Highlight: External factors such as pandemics, recessions, and demographic changes can significantly impact financial planning.

Example: Career development typically occurs between ages 20-60, affecting income patterns and investment choices.

topic 1 Purpose of money Bastening is someone exchanging the goods or Services they prodies with someone else who has goods and Services to

Sign up to see the contentIt's free!

Access to all documents

Improve your grades

Join milions of students

By signing up you accept Terms of Service and Privacy Policy

Payment Methods and Banking

Modern banking offers diverse payment methods to suit different needs and preferences. Each payment method has distinct advantages and considerations for users.

Definition: Standing Orders are regular, fixed payments set up by the account holder, while Direct Debits are variable payments authorized by the account holder but controlled by the receiving organization.

Highlight: Digital payment methods like online banking and contactless cards have revolutionized transaction convenience.

Example: A contactless card payment limit of £30 provides convenience while maintaining security.

topic 1 Purpose of money Bastening is someone exchanging the goods or Services they prodies with someone else who has goods and Services to

Sign up to see the contentIt's free!

Access to all documents

Improve your grades

Join milions of students

By signing up you accept Terms of Service and Privacy Policy

Banking Services and Account Types

Banking services have evolved to offer various account types catering to different customer needs. Current accounts serve as the foundation for day-to-day banking activities.

Vocabulary: APR AnnualPercentageRateAnnual Percentage Rate - the yearly interest rate charged on overdrafts and credit products.

Highlight: Modern banking includes branch, internet, and telephone banking options for customer convenience.

Example: Student accounts often come with special features like interest-free overdrafts to support educational expenses.

topic 1 Purpose of money Bastening is someone exchanging the goods or Services they prodies with someone else who has goods and Services to

Sign up to see the contentIt's free!

Access to all documents

Improve your grades

Join milions of students

By signing up you accept Terms of Service and Privacy Policy

Purpose of Money

The fundamental purpose of money emerged from the limitations of bartering, providing a standardized medium of exchange. Money serves multiple functions in modern economies through various forms including coins, notes, and electronic balances.

Definition: Bartering is the direct exchange of goods and services without using money as an intermediary.

Highlight: Money must possess specific features to function effectively: acceptability, portability, homogeneity, durability, and scarcity.

Example: A $20 bill serves as a store of value, medium of exchange, and measure of value all at once.

Can't find what you're looking for? Explore other subjects.

Students love us — and so will you.

4.9/5

App Store

4.8/5

Google Play

The app is very easy to use and well designed. I have found everything I was looking for so far and have been able to learn a lot from the presentations! I will definitely use the app for a class assignment! And of course it also helps a lot as an inspiration.

Stefan S

iOS user

This app is really great. There are so many study notes and help [...]. My problem subject is French, for example, and the app has so many options for help. Thanks to this app, I have improved my French. I would recommend it to anyone.

Samantha Klich

Android user

Wow, I am really amazed. I just tried the app because I've seen it advertised many times and was absolutely stunned. This app is THE HELP you want for school and above all, it offers so many things, such as workouts and fact sheets, which have been VERY helpful to me personally.

Anna

iOS user

I think it’s very much worth it and you’ll end up using it a lot once you get the hang of it and even after looking at others notes you can still ask your Artificial intelligence buddy the question and ask to simplify it if you still don’t get it!!! In the end I think it’s worth it 😊👍 ⚠️Also DID I MENTION ITS FREEE YOU DON’T HAVE TO PAY FOR ANYTHING AND STILL GET YOUR GRADES IN PERFECTLY❗️❗️⚠️

Thomas R

iOS user

Knowunity is the BEST app I’ve used in a minute. This is not an ai review or anything this is genuinely coming from a 7th grade student (I know 2011 im young) but dude this app is a 10/10 i have maintained a 3.8 gpa and have plenty of time for gaming. I love it and my mom is just happy I got good grades

Brad T

Android user

Not only did it help me find the answer but it also showed me alternative ways to solve it. I was horrible in math and science but now I have an a in both subjects. Thanks for the help🤍🤍

David K

iOS user

The app's just great! All I have to do is enter the topic in the search bar and I get the response real fast. I don't have to watch 10 YouTube videos to understand something, so I'm saving my time. Highly recommended!

Sudenaz Ocak

Android user

In school I was really bad at maths but thanks to the app, I am doing better now. I am so grateful that you made the app.

Greenlight Bonnie

Android user

I found this app a couple years ago and it has only gotten better since then. I really love it because it can help with written questions and photo questions. Also, it can find study guides that other people have made as well as flashcard sets and practice tests. The free version is also amazing for students who might not be able to afford it. Would 100% recommend

Aubrey

iOS user

Best app if you're in Highschool or Junior high. I have been using this app for 2 school years and it's the best, it's good if you don't have anyone to help you with school work.😋🩷🎀

Marco B

iOS user

THE QUIZES AND FLASHCARDS ARE SO USEFUL AND I LOVE THE SCHOOLGPT. IT ALSO IS LITREALLY LIKE CHATGPT BUT SMARTER!! HELPED ME WITH MY MASCARA PROBLEMS TOO!! AS WELL AS MY REAL SUBJECTS ! DUHHH 😍😁😲🤑💗✨🎀😮

Elisha

iOS user

This app is phenomenal down to the correct info and the various topics you can study! I greatly recommend it for people who struggle with procrastination and those who need homework help. It has been perfectly accurate for world 1 history as far as I’ve seen! Geometry too!

Paul T

iOS user

The app is very easy to use and well designed. I have found everything I was looking for so far and have been able to learn a lot from the presentations! I will definitely use the app for a class assignment! And of course it also helps a lot as an inspiration.

Stefan S

iOS user

This app is really great. There are so many study notes and help [...]. My problem subject is French, for example, and the app has so many options for help. Thanks to this app, I have improved my French. I would recommend it to anyone.

Samantha Klich

Android user

Wow, I am really amazed. I just tried the app because I've seen it advertised many times and was absolutely stunned. This app is THE HELP you want for school and above all, it offers so many things, such as workouts and fact sheets, which have been VERY helpful to me personally.

Anna

iOS user

I think it’s very much worth it and you’ll end up using it a lot once you get the hang of it and even after looking at others notes you can still ask your Artificial intelligence buddy the question and ask to simplify it if you still don’t get it!!! In the end I think it’s worth it 😊👍 ⚠️Also DID I MENTION ITS FREEE YOU DON’T HAVE TO PAY FOR ANYTHING AND STILL GET YOUR GRADES IN PERFECTLY❗️❗️⚠️

Thomas R

iOS user

Knowunity is the BEST app I’ve used in a minute. This is not an ai review or anything this is genuinely coming from a 7th grade student (I know 2011 im young) but dude this app is a 10/10 i have maintained a 3.8 gpa and have plenty of time for gaming. I love it and my mom is just happy I got good grades

Brad T

Android user

Not only did it help me find the answer but it also showed me alternative ways to solve it. I was horrible in math and science but now I have an a in both subjects. Thanks for the help🤍🤍

David K

iOS user

The app's just great! All I have to do is enter the topic in the search bar and I get the response real fast. I don't have to watch 10 YouTube videos to understand something, so I'm saving my time. Highly recommended!

Sudenaz Ocak

Android user

In school I was really bad at maths but thanks to the app, I am doing better now. I am so grateful that you made the app.

Greenlight Bonnie

Android user

I found this app a couple years ago and it has only gotten better since then. I really love it because it can help with written questions and photo questions. Also, it can find study guides that other people have made as well as flashcard sets and practice tests. The free version is also amazing for students who might not be able to afford it. Would 100% recommend

Aubrey

iOS user

Best app if you're in Highschool or Junior high. I have been using this app for 2 school years and it's the best, it's good if you don't have anyone to help you with school work.😋🩷🎀

Marco B

iOS user

THE QUIZES AND FLASHCARDS ARE SO USEFUL AND I LOVE THE SCHOOLGPT. IT ALSO IS LITREALLY LIKE CHATGPT BUT SMARTER!! HELPED ME WITH MY MASCARA PROBLEMS TOO!! AS WELL AS MY REAL SUBJECTS ! DUHHH 😍😁😲🤑💗✨🎀😮

Elisha

iOS user

This app is phenomenal down to the correct info and the various topics you can study! I greatly recommend it for people who struggle with procrastination and those who need homework help. It has been perfectly accurate for world 1 history as far as I’ve seen! Geometry too!

Paul T

iOS user