pdic_UsapangPera_GuideBook
pdic_UsapangPera_GuideBook pdic_UsapangPera_GuideBook
Money is Important 1. Studies vary as to when the concept of money, an object with an intermediate value used for the exchange of goods and services, first appeared. Some studies date back to 9000 BC while others say that the concept of money emerged around 2000 BC. People initially traded goods and services with each other. This was called bartering. 2. Gradually, people found that it was more efficient to use an intermediate object of value to transact. 3. One of the earlier forms of money was salt. Eventually people started to use coins and paper money because, unlike salt, these did not spoil. 4. Notes and coins have legal tender power because, given the right amounts, they can immediately extinguish a financial obligation. 5. Checks, debit and credit cards do not have legal tender power because their acceptance is still at the option of the creditor. 14 Money is Important
- 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 and 20: A Brief History of Money At the hou
- Page 21 and 22: Different Forms of Money Seeing his
- Page 23: Financial Expert’s Corner They sa
- Page 27 and 28: A bit puzzled, Mang Domeng asks Son
- Page 29 and 30: Financial Expert’s Corner The rea
- Page 31 and 32: Figure 1 Why and How to Save 21
- Page 33 and 34: “The second to the largest defend
- Page 35 and 36: The savings in the formula will be
- Page 38 and 39: It’s a Wednesday and both Mang Do
- Page 40 and 41: Financial Expert’s Corner The KYC
- Page 42 and 43: “But Sonny and Tessie,” reminds
- Page 44 and 45: “Really po, Nanay?”, Tessie exc
- Page 46 and 47: Financial Expert’s Corner With cu
- Page 48 and 49: 38 Depositing Your Money Figure 3
- Page 50 and 51: Figure 4 Checking Accounts The astu
- Page 52 and 53: Financial Expert’s Corner Figure
- Page 54 and 55: Figure 6 Towards the right of the d
- Page 56 and 57: Time Deposit Accounts It’s the fo
- Page 58 and 59: Time deposits will typically be pai
- Page 60 and 61: Closing the Deposit Account Aling L
- Page 62: Depositing Your Money 1. Savings ac
- Page 65 and 66: Mang Domeng says that he could bare
- Page 67 and 68: All three heuristics, thinking in r
- Page 69 and 70: Given the following assumptions, Pr
- Page 71 and 72: Harry says, “Take the case of col
- Page 73 and 74: astardizes the legitimate marketing
Money is Important<br />
1. Studies vary as to when the concept of money, an object with an<br />
intermediate value used for the exchange of goods and services,<br />
first appeared. Some studies date back to 9000 BC while others<br />
say that the concept of money emerged around 2000 BC. People<br />
initially traded goods and services with each other. This was called<br />
bartering.<br />
2. Gradually, people found that it was more efficient to use an<br />
intermediate object of value to transact.<br />
3. One of the earlier forms of money was salt. Eventually people started<br />
to use coins and paper money because, unlike salt, these did not<br />
spoil.<br />
4. Notes and coins have legal tender power because, given the right<br />
amounts, they can immediately extinguish a financial obligation.<br />
5. Checks, debit and credit cards do not have legal tender power<br />
because their acceptance is still at the option of the creditor.<br />
14 Money is Important
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