Introduction To Financial Literacy – Introduction to Financial Literacy 1.1 Objectives After completing this lesson, you will be able to: Define “financial literacy” Describe financial literacy.
Presentation on theme: “Introduction to Financial Literacy 1.1 Objectives By the end of this lesson, you will be able to: Define Financial Literacy.
Introduction To Financial Literacy
3 Objectives At the end of this lesson, you will be able to: Define “financial literacy” Relate financial literacy to your life situation Identify “money, medium of exchange, barter systems, and the economy” Define and discuss the current state of the economy. economy
Sharing With Others: An Introduction To Financial Literacy Book By Mattie Reynolds
4 “Finance…literacy?!?” Who does the work? Who will work sometime? Is your money supply infinite?
5 Reasons to Learn Financial Literacy Do people ever run out of money? What happens after that? What is recession? how does it affect you? How does a recession begin?
6 What is financial literacy? So what does “literate” mean? In other words, financial literacy is simply “understanding how money works”.
8 $$$ Money $$$ What is money? What do I mean when I say that money is a “medium of exchange”? What do I mean when I say that money is a “store of value”?
Financial Literacy: An Introduction (part 1)
9 Money is something that is used as a medium of exchange. The BEST money meets 5 features. 1.) Mobility – it should be easy to move 2.) Separability – it should be easy to divide into smaller pieces 3.) Durability – it should be physically strong and retain its value 4 .) Known – easy 5.) Hard to counterfeit – hard to copy illegally
11 Other Fun Facts Gold coins were used as far back as 600 BC China invented its first paper money in 806
12 MONEY AS TWO CATEGORIES Commodity money – anything that has intrinsic value. Gold, silver, jewelry, food, bullets, tobacco, gold-backed currency Fiat Currency – anything worthless except the US dollar
13 Why do barter systems hurt?
Introduction: The Financial Literacy Collective
14 Economy What does “economy” mean? cash flow? GDP, or Gross Domestic Product What do people who study the economy call?
15 Become an Economist Do your research. Open your computer and find articles, facts, and figures in Google Docs that answer these four questions. Please tell us about the current economy. Why did we fall into recession from 2008 to 2011? How will the recession end? Is this the only recession in history? When was the last time? Do you have a pattern?
16 Homework: Expense record Keep track of your expenses and income every day for two weeks. Record everything you do (or take) and everything you buy (or lose). Organize this list throughout the day. At the end of the week, total your net spending (positive or negative).
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Money Matters Module
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