16. Money, values, obsessions - P
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16. Money, values, obsessions Cashflow oběživo Hard currency tvrdá měna Cheques šeky Exchange rate směnný kurs Cheque book šeková knížka Credit card kreditka Barter směnný obchod Cash hotovost What is money? Money is everything that serves as a universally accepted medium of exchange or means of payment. It is the most active and powerful economic instrument which is used anywhere and anytime. Function of money Money helps people to exchange goods and services for other commodities, it means to make transactions. It gives the value to nearly everything. It can be kept for spending at a later date. We can compare the value of various goods and services thank to money. Evolution of money Before money people used the barter system to exchange their products. Barter was the direct change of goods. In the market place one could barter his hen for example for something of the same value. Later people developed a more practical system of exchange. They used commodity money – goods which were told to have value. For instance: cattle, salt, wine, tobacco, etc. Now we use paper and metal or plastic money. Banknotes are paper money. They are protected from counterfeiting by water marks, security threads, microprinting in the design and use of reflective materials. Coins are metal money. All types of plastic cards used in place of cash are called plastic money. Advantages of credit cards or cash cards You can obtain cash from a cash dispenser 24 hours a day. You can make payments without using cash in shops, restaurants, hotels and so on. You do not need to have money with you and it protects you against losses. At the cash point Insert your card. Key in your PIN number. Press the withdraw cash button. Choose the amount of money you want. Take your card. Take your cash. Exchange rate Exchange rate is the relation in value of one currency against another You can find it in every bank, in newspapers and on the Internet. Exchange rate is changed every day. Convertible currencies Convertible currencies are national currencies which can be freely bought for other national currencies. Pounds Euros Dollars Swiss Franks Czech Crowns Questions: What are advantages and disadvantages of using credit cards? What does PIN stand for? Where can we find exchange rate? Which convertible currencies do you know? Earning money job – adults, more educated – more money, our parents summer job/part time job – if I want something, and my allowance is low, many kinds, since 15 years you can have a part time job and since 18 you can work with money (shop assitent) pocket money/allowance – from our parents, we can spend or budget Importance of money in our lives you need money because nothing is for free to buy thing for our basic needs – food, drinks, even water is not for free when our basic needs are accomplished - we want to have some things, which make us happy – nice clothes, cars, houses,… Rich sb can say, that be rich is not necessary, but is better cry in BMW than under the bridge you can buy what you want travel around the world – do what you want Poor sb says, that you don’t need money for life-you have happiness, love, health Cash or credit card Cash if somebody stoles you wallet, he stoles you just money, which is in wallet and no all money, which you have on your bank account if you want to buy something in a shop, they always will take a money, in some shops the doesn’t accept a credit cards if you have real money in your wallet, you are more careful with money, because it is more painful, when you see your money in hands of shop assistant it is not practical if you have to pay a expensive thing if someone stole your money, they are gone if you are in foreign country, you have to exchange currency Credit card faster, now does exist contactless cards-even faster more comfortable safer, is someone stole you money-you can block your card on your account is bank rate and your money increases you don’t have to exchange currency in foreign country some taxes, that you have credit card Me and money mostly from my mum and dad – allowance/pocket money my first part time job-in hydraulic firm-stocktaking; than shop assistant in newsagent – last summer I try to save all my money, I think I can budget – I saved for couple years and I bought camera I always got money from my grandmothers for my birthdays Types of account current accounts they are used for writing cheques, paying by debit card and paying bills the have low interest deposits accounts and savings accounts long term deposits usually have higher interest than short-term deposits Loans is money lent to a borrower by a lender the borrower must pay off more money – his loan plus the interest on the sum in the process of making loans, banks create new money there are: long-term loans medium-term loans short-term loans Mortgage is a long term loan, a real property (a building) is uses as a guarantee if client is unable to repay his loan, the property becomes the one of the bank