TV3 Spending Saving and Borrowing

• Economie
• WO
• Studiejaar 3

Spending, Saving, Borrowing

Open the worksheet from Classroom

You have 5 minutes to study this in silence

You then have 5 minutes to discuss this with your neighbor

Then, there's a short quiz!

Study in silence

Discuss...

What is real income?

1. Income before tax is taken off
2. Income after tax is taken off
3. Income corrected for prices
4. Income corrected for tax

What is gross income?

1. Income before tax is taken off
2. Income after tax is taken off
3. Income corrected for prices
4. Income corrected for tax

What is net income?

1. Income before tax is taken off
2. Income after tax is taken off
3. Income corrected for prices
4. Income corrected for tax

What makes spending go up?

1. Lower wages
2. Lower interest rates
3. Higher tax
4. Higher interest rates

What makes saving go up?

1. Lower wages
2. Lower interest rates
3. Higher tax
4. Higher interest rates

What makes borrowing go up?

1. Lower wages
2. Lower interest rates
3. Higher tax
4. Higher interest rates

What happens to spending when consumer confidence drops?

1. Nothing
2. Up
3. Down
4. All of the above

What happens to spending when there are more saving schemes?

1. Nothing
2. Up
3. Down
4. All of the above

What happens to spending when people's income goes up?

1. Nothing
2. Up
3. Down
4. All of the above

Balance

Date

Left = debit & Right = credit

Left side --> all your possessions, money you've loaned out, and cash and money in bank account.

Right side --> all money you've borrowed + own wealth = total from left side - money borrowed

Totals on both sides must be equal

My Balance

It is Jan 1st 2019 and I own €100 in cash in nothing else. Write my balance...

My Balance

It is Jan 2nd 2019 and I bought a bike for EUR 50,-

My Balance

It is Jan 3rd 2019 and I got paid by Wolfert: EUR 2500 into my bank account.

My Balance

It is Jan 4th 2019 and I bought a house worth EUR156,000 with a mortgage of EUR154,000.

My Balance

It is Jan 5th 2019 and I got my wage of €2500 and paid my monthly mortgage fee of EUR500 plus 2% per year in interest for this month.

My Balance

It is Jan 6th 2019 and I lent EUR 200 to my sister electronically.

My Balance

It is Jan 7th 2019 and I bought a €3 sandwich and paid with my card.

Let's practice

Write a story like the mine for someone else. Give the start date and starting balance.

They write a final balance with the information given!