Save
Busy. Please wait.
or

show password
Forgot Password?

Don't have an account?  Sign up 
or

Username is available taken
show password

why


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
We do not share your email address with others. It is only used to allow you to reset your password. For details read our Privacy Policy and Terms of Service.


Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
focusNode
Didn't know it?
click below
 
Knew it?
click below
Don't know (0)
Remaining cards (0)
Know (0)
0:00
share
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

Saving and Borrowing

QuestionAnswer
What 2 factors should you consider when deciding where to save? Interest rate and accessibility.
Define investing. Using money to earn a greater return than is possible from an ordinary savings account.
Name 3 places to invest. -Deposit account. -Buying shares of a company. -Buying property ( receive rent and may increase in value)
What tax is paid on interest earned on savings? DIRT
What does DIRT stand for? Deposit Interest Retention Tax
What is a credit union? A non-profit-making organisation where people save and lend to each other at fair interest rates.
What 2 types of savings accounts are available from the credit union? -Savings/Share Account -Deposit Account
What is a postal money order? An order from one post office to another to pay a certain sum of money to the person named on the order.
Name 2 types of interest in relation to saving. -Simple -Compound -Compound Annual Rate (CAR) -Deposit Interest Retention Tax(DIRT)
Name 3 factors to consider before borrowing. -Do I really need the item? -Can I raise the money another way? -Can I repay the loan?
Name 3 places you can borrow from. -Commercial Banks -Building Societies -Credit Union
What is interest? The price we pay for borrowing money.
Name 3 ways to borrow. -Overdraft -Term Loan -Long-Term Loan/Mortgage -Credit Union Loan Moneylender
Name 3 rights of a borrower. -To be told the APR of interest. -To be told the total cost of the loan. -To be told the number of instalments required. -The right to cancel the loan within 14 days.
Created by: keeganep
 

 



Voices

Use these flashcards to help memorize information. Look at the large card and try to recall what is on the other side. Then click the card to flip it. If you knew the answer, click the green Know box. Otherwise, click the red Don't know box.

When you've placed seven or more cards in the Don't know box, click "retry" to try those cards again.

If you've accidentally put the card in the wrong box, just click on the card to take it out of the box.

You can also use your keyboard to move the cards as follows:

If you are logged in to your account, this website will remember which cards you know and don't know so that they are in the same box the next time you log in.

When you need a break, try one of the other activities listed below the flashcards like Matching, Snowman, or Hungry Bug. Although it may feel like you're playing a game, your brain is still making more connections with the information to help you out.

To see how well you know the information, try the Quiz or Test activity.

Pass complete!

"Know" box contains:
Time elapsed:
Retries:
restart all cards