Financial Literacy

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Financial Literacy by Mind Map: Financial Literacy

1. Money

1.1. Anything people agree to accept as a means of exchange

1.1.1. Save

1.1.2. Spend

1.1.3. Share

2. Bank account

2.1. A record of money deposited or withdrawn

2.1.1. Deposit

2.1.1.1. To put money in a bank account for safekeeping

2.1.2. Withdrawal

2.1.2.1. To take money out of a bank account

2.1.3. Interest

2.1.3.1. Money paid for the use of someone else's money

3. SMART

3.1. S- Stop and think

3.2. M- Make a plan

3.3. A- Ask questions

3.4. R- Review informations

3.5. T- Take action

4. Business

4.1. The making, buying, and selling of goods and services

4.1.1. Entrepreneur

4.1.1.1. Someone who create and organizes a new business

4.1.2. Employee

4.1.2.1. People who is employed to work for others to earn money

4.1.3. Self-employed

4.1.3.1. Working for oneself, not for another person or company

4.1.4. Employer

4.1.4.1. People who employ others to work for them

4.1.5. Work ethic

4.1.5.1. A set of values based on hard work and doing the right thing

4.1.6. Job skill

4.1.6.1. An ability that comes from training or practice

4.1.7. Profit

4.1.7.1. The money left after the total costs are deducted form the revenue

4.1.8. revenue

4.1.8.1. the income generated from the sale of goods or services

5. Start a business

5.1. Start-up costs

5.1.1. The money needed to start a business

5.2. Market research

5.2.1. What people need

5.2.2. When they need it

5.2.3. Where they need it

5.2.4. How much they are willing to pay for it

6. Deceptive advertising

6.1. The advertisement designed to influence buyers with false or misleading claims