Everyday money
The path is primarily for ages 13–18 and adult beginners. Younger children can learn alongside a parent or teacher. Levels describe prior knowledge, not a guarantee of suitability for every age.
What you will learn
- Think of one savings goal and one expense you can postpone.
- Identify the difference between money you have and money the bank lends you.
- Explain the example in your own words and check the calculation.
Practice example
What is money?
Income is money that comes in, and an expense is money that goes out. A budget helps plan expenses so they fit the income and goals. Savings is the part of income that you set aside for later.
You received 60 ₪ and spent 35 ₪. 25 ₪ remain that you can save for the next goal.
Think of one savings goal and one expense you can postpone.
Checking account: the home of daily money
Deposits, payments and withdrawals change the balance. A positive balance is money in the account; a negative balance, or overdraft, is debt to the bank. An overdraft may carry interest. Not all positive balances earn interest, and conditions vary between banks.
There are 200 ₪ in the account. After a payment of 70 ₪, 130 ₪ remain. A credit line is not money you received as a gift.
Identify the difference between money you have and money the bank lends you.
Recommended sequence
- What is money?
Money is a common means of payment used to buy things and compare prices.
Level 1 · 3 minutes to read - Checking account: the home of daily money
A checking account is a bank account for everyday payments, deposits and withdrawals.
Level 1 · 3 minutes to read - Percentages: The Language of Money
A percent is a part out of one hundred.
Level 1 · 4 minutes to read - Profit and loss: reading the numbers
Profit or loss is the difference between an investment’s current value and its cost.
Level 1 · 3 minutes to read - How to read a chart
A chart displays data. Check what is measured, the units and the period before drawing conclusions.
Level 1 · 5 minutes to read - Stop Before a Big Promise
An investment scam tries to get you to transfer money by deception.
Level 1 · 3 minutes to read
Next lesson
Saving, interest and credit