pdic_UsapangPera_GuideBook
pdic_UsapangPera_GuideBook pdic_UsapangPera_GuideBook
Taking advantage of his children’s interest, Mang Domeng gladly continues with his story. Financial Expert’s Corner As more and more products and services were developed, people in the olden days found that it was more efficient to use an intermediate object of value to transact. The fisherman would now receive the equivalent value of this object in trading his fish for the vegetables of the farmer. He can even choose to first buy just what he needs in vegetables say for the first three days of the week to avoid spoilage and store the balance in value in equivalent units Did You Know? of the intermediate object. He can then spend the balance in value of this intermediate object for the rest of his vegetable needs by the middle of the week. According to the Banknotes and Coins publication of the Bangko Sentral ng Pilipinas, the Philippines had 19.13 billion pieces of coins valued at P21.30 billion and 2.18 billion pieces of notes valued at P575.38 billion that had been issued as of 30 November 2012. 10 Money is Important
Different Forms of Money Seeing his children’s interest, Mang Domeng continued to explain other forms of money. Financial Expert’s Corner Under a country’s 1 jurisdiction, money that comes in the form of notes and coins is legal tender. This means that money can be offered to meet a financial obligation, which is generally the payment for goods and services bought. When you buy a car, pay for groceries, pay rent and repay debt, you are paying for goods and services you bought. In effect, legal tender is something that, when offered for payment, fully settles the debt or financial obligation. Did You Know? The word “talent”, which today means “skill” or “special ability”, originated from the parable of the talents. In the parable, people traded in talents, which originally referred to a unit of measure equivalent to the mass of a precious metal. 1 The presumption is that this country is operating in a modern-day economy and has, by and large, given up barter trade. Money is Important 11
- Page 2 and 3: Copyright 2013 by the Philippine De
- Page 5 and 6: Foreword Through the Philippine Dep
- Page 7 and 8: insured deposits. This Guidebook is
- Page 9 and 10: Table of Contents A Brief History o
- Page 12 and 13: Just like in the United States of A
- Page 14: Table 1 1 Maximum Deposit Insurance
- Page 17 and 18: Money is Important 7
- Page 19: A Brief History of Money At the hou
- Page 23 and 24: Financial Expert’s Corner They sa
- Page 26 and 27: The Different Life-Event Stages Six
- Page 28 and 29: “In our case, we are saving up fo
- Page 30 and 31: The next life-event stage is where
- Page 32 and 33: How to Save Mang Domeng, as if to r
- Page 34 and 35: Financial Expert’s Corner Saving
- Page 36: Why and How to Save 1. There are ma
- Page 39 and 40: A few minutes later, Tessie is alre
- Page 41 and 42: • Suspicious transactions are tra
- Page 43 and 44: Financial Expert’s Corner In acco
- Page 45 and 46: Banks may or may not issue an ATM c
- Page 47 and 48: He says that all that bank tellers
- Page 49 and 50: Tessie expresses some concerns. “
- Page 51 and 52: Aling Lorna smiles and continues,
- Page 53 and 54: Located on the upper left hand corn
- Page 55 and 56: Financial Expert’s Corner To avoi
- Page 57 and 58: Mang Domeng says to Aling Lorna,
- Page 59 and 60: Financial Expert’s Corner It shou
- Page 61 and 62: In closing the deposit account, you
- Page 64 and 65: It’s 5:30 AM on a Wednesday, and
- Page 66 and 67: The over-reliance on heuristics giv
- Page 68 and 69: Financial Expert’s Corner Money a
Taking advantage of his children’s interest, Mang Domeng<br />
gladly continues with his story.<br />
Financial Expert’s Corner<br />
As more and more products and services were developed, people<br />
in the olden days found that it was more efficient to use an intermediate<br />
object of value to transact. The fisherman would now receive the<br />
equivalent value of this object in trading his fish for the vegetables<br />
of the farmer. He can even choose to first buy just what he needs in<br />
vegetables say for the first three days of the week to avoid spoilage<br />
and store the balance in<br />
value in equivalent units Did You Know?<br />
of the intermediate<br />
object. He can then<br />
spend the balance in<br />
value of this intermediate<br />
object for the rest of his<br />
vegetable needs by the<br />
middle of the week.<br />
According to the Banknotes and<br />
Coins publication of the Bangko<br />
Sentral ng Pilipinas, the Philippines<br />
had 19.13 billion pieces of coins<br />
valued at P21.30 billion and 2.18<br />
billion pieces of notes valued at P575.38<br />
billion that had been issued as of 30<br />
November 2012.<br />
10 Money is Important
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