Financial Literacy Club
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Money Fundamentals · Lesson 1
What Money Actually Is
Part A. Vocabulary
Define each term in your own words.
Money
Part B. Guided notes
Fill in each blank using the word bank.
Word bank: digital · exchange · problem · take-home
- Money solves the barter — you don't need to find someone who wants exactly what you have.
- Money does three jobs: medium of , unit of account, and store of value.
- Most money today is , not cash.
- Price ÷ hourly pay = the real cost in hours of your time.
Part C. Check your understanding
Circle the best answer.
You want to trade your old video game for a friend's jacket, but your friend doesn't want the game.
1. How does money solve this problem?
- A. It makes the jacket cheaper.
- B. You can sell the game to anyone, then buy the jacket with the money.
- C. It guarantees the game will keep its value.
- D. It means you no longer need to agree on a price.
2. Most money in the U.S. today exists as physical cash.
True/False
You take home $12 an hour after taxes. Concert tickets cost $90.
3. Thinking in hours of work, what do the tickets really cost you?
- A. 6 hours
- B. 9 hours
- C. 7.5 hours
- D. 12 hours
Part D. Apply it
Show your work.
1. Jada takes home $14 an hour. A video game costs $70. How many hours of work does the game cost?
2. Luis takes home $11.50 an hour. Concert tickets and parking cost $115. How many hours is that, and about how many 5-hour shifts?
Part E. Think about it
Answer in complete sentences.
1. If everyone suddenly stopped trusting the dollar, what would happen to its value? Why?
2. Pick something you bought recently. Was it worth the hours of work it cost?
Exit ticket
Name
Name money's three jobs and give an everyday example of one.