Shoot for the stars.
What a wonderful thing to see you here. You have the first thing that you need, and that is curiosity. And I believe you have the determination as well. That is the most important thing. Never lose determination when you want to achieve something, because without determination, you will give up. You may be too young to be worried about making money, but you’re definitely … Continue reading How not to stay poor?
We have to make choices because of scarcity. Woah. That’s a big word. scarcity. What it actually means is : there’s not enough to go around. Why do we not have enough money? Because The employer that pays our parents do not have enough to pay. Why do the employers not have enough money to pay? Because the people who buy their products and services … Continue reading Why do we need to make choices?
Being poor can mean different things for different people. The word “poor” is being used rather loosely by people like you and I. But what does it really mean to be poor? According to the World Bank, Being extremely poor is when you live on US$1.90 per day or S$2.70 per day or thereabouts. Being moderately poor is when you live on less than US$3.10 … Continue reading Is it bad to be poor? {with printable}
SIMPLEST REASON FOR A BANK: To safely store our money. But banks cannot be there to just look after our money without making some money for itself. Otherwise, how will the staff get paid? So, banks have a business of their own. How do banks make money? The business of banking is rather complex. I will share with you a very simple business model of … Continue reading How Do Banks Work?
Let’s bring your attention to some of the things that you enjoy for free in your country. Your Neighbourhood Playgrounds Parks Street Lamps & Public Benches Who’s Paying For All of This? YOU, ME and EVERYBODY, of course! We pay the government for these facilities in the form of taxes. Some Types of Taxes Goods and Services Tax (GST) You pay them almost every time … Continue reading Why Do Governments Collect Taxes?
Firstly, do you know what a currency is? A currency is a unit of exchange, specifically used when buying or selling goods or services. Fun Fact But did you know that there’s no one currency that works in all countries? Every single country in this world has their own currency. Like many other things, currency needs to be managed. If the world only had one … Continue reading Why Do Countries Have Different Currencies? {With Printable}
In really really simple terms, inflation means rising prices. One very good example would be the price of McDonald’s vanilla ice-cream cone. If you were big enough to remember, a few years back, 1 cone used to cost only 50 cents. Then over time, it rose to 80 cents per cone. Now, it’s $1 per cone. This whole ongoing process is called inflation. But why … Continue reading What Is Inflation?
To put it simply, interest is the cost of borrowing money. Let’s just say I want to spend $1 on a cone of ice-cream right this moment. But then, a friend of mine asked to borrow $1 from me. I only have that $1 coin and nothing else. Shall I decide to lend my coin to my friend or use it to buy my ice-cream … Continue reading What Is Interest?
