7.2 USE OF INCOMES Spend o durable goods: last at least 3 years, o E.g. cars, washing machines, refrigerators, furniture o Non-durable goods: immediately consumed or have a relatiⅳ vely short life E g. food, clothes, radio batteries Save e deposit into an account at a financial institution purchase of shares or units in a trust urchase of bond or debenture o deduction from pay that goes into a superannuation fund
7.2 USE OF INCOMES ⚫ Spend ⚫ Durable goods: last at least 3 years, ⚫ E.g. cars, washing machines, refrigerators, furniture… ⚫ Non-durable goods: immediately consumed or have a relatively short life ⚫ E.g. food, clothes, radio batteries… ⚫ Save ⚫ deposit into an account at a financial institution ⚫ purchase of shares or units in a trust ⚫ purchase of bond or debenture ⚫ deduction from pay that goes into a superannuation fund
7,3 PLASTIC CARDS, CYBERCASH AND THE INTERNET Credit card o allows its holder to make purchases without payment of cash immediately American Express Diners Club, Mastercard, visa Debit card e allows its holder to have access to his own funds at financial institution ● EFTPOS,ATM o Stored-value card(magnetic strip) o enables holder to use facilities without having cash or the correct change phone, photocopy transport card Smart card(computer chip) Ecash and CyberCoin
7.3 PLASTIC CARDS, CYBERCASH AND THE INTERNET ⚫ Credit card ⚫ allows its holder to make purchases without payment of cash immediately ⚫ American Express, Diners Club, Mastercard, Visa ⚫ Debit card ⚫ allows its holder to have access to his own funds at financial institution ⚫ EFTPOS, ATM ⚫ Stored-value card (magnetic strip) ⚫ enables holder to use facilities without having cash or the correct change. ⚫ phone, photocopy, transport card… ⚫ Smart card (computer chip) ⚫ Ecash and CyberCoin