Money and finance

Money and finance

Personal finance

• We can pay by debet card, credit card, cheque or cash

• If buy somethig we usually recieve a receipt

  • If we pay by debet card, we draw money from our account

    • We spend on your money

  • If we pay by cheque, we write amount on special paper and give it for example receptionist in a hotel, if we pay our bill.

  • If we pay by cash we take money from our wallet

    • We have got notes and coins in the wallet

  • We can also pay by paypal

    • It is a global e-commerce business which allows you to pay your payments through the internet

• The money that we pay for services (for example to a lawer) is usually called a fee or fees (poplatky)

• The money that we pay for a journey is a fare (jízdné)

CURRENT ACCOUNT

• It’s account which is in the bank

• We can withdraw your money when you need

• We can withdraw it in the cash machine

• The bank sends us a regular bank statement (bankovní výpis) telling you how much money is in our account

SAVING ACCOUNT

• You save your money on this account

• You save it for some time time – for example for 10 years

• And you can withdraw your money when 10 years expires

• And you withdraw more money than you save because we also recieve some interest

LOANS

• It’s money which you borrow from the bank

• It’s good if you need buy something expensive but you don’t have enough money

• If you borrow money from bank you have to pay interests

  • Interests are money which you pay extra

  • So you pay more than you borrowed

MORTGAGES

• It’s money which you borrow from the bank

• You borrow it only on buy or repair house or flat

• You have to pay back money which you borrowed plus inerests

WITHDRAWING OR DEPOSITING MONEY

• You can withdraw your money from a cash machine

• You need your card to withdrow money

• You can also deposit your money in a bank

Public finance

• The government collects money from citizens through taxes (prostřednictvím daní)

  • Income tax (daň z příjmu) is the tax collected on wages and sallaries

  • Inheritance tax (dědická daň) is collected on what people inherit from others.

  • VAT or value added tax is a tax paid on most goods and services