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Personal Finance Part 1

Personal Finance Part 1

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Published by Elizabeth Fernandez

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Published by: Elizabeth Fernandez on Mar 20, 2012
Copyright:Attribution Non-commercial

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12/07/2013

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Personal Finance part 1:Banks and investmentsObjectives

Discuss banking
 –
 
Its origin & role in modern society
 

Talk about services provided bybanks
 –
 
And their customers

Identify different classes ofinvestments
 –
 
Some are well known
 –
 
Others not so well known

Understand how to makemoney!Where does the word
Bank
 come from?

From the Italian
Banco
 
meaning
table 

In Renaissance Italy every townhad a
piazza 

Money lenders would setuptables there

If you needed money

You could visit the moneylender
s table
 

And arrange a small, short termloanThe tables are gone, but
 

The situation is still the same
 –
 
Some people are borrowers
 –
 
Other people are savers

And the moneylenders are now
“  
banks 
”  
 

So think about this

A bank is nothing more than aplace
 –
 
where borrowers and savers meetBanks play a very importantrole

Borrowers have a deficit ofmoney

Savers have a surplus of money

Banks provide a distributionchannel

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