Personal Finance. Unit 13 – Georgia Produces; Georgia’s Trade; Starting a Business; Sources of State Revenue; Personal Money Management. Trade in Georgia. Trade in Colonial times was with Native Americans and shipping goods back to Europe. .
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Unit 13 – Georgia Produces; Georgia’s Trade; Starting a Business;
Sources of State Revenue; Personal Money Management
2nd largest poultry company is in GA.
Soft drinks, carpet, transportation equipment, & forest products
Coca-Cola – most recognized GA product
Shaw Industries – largest manufacture of carpet in the world
Lockheed-Martin in Marietta makes C-130 aircraft for global customers
Georgia-Pacific: Worldwide supplier of forest products: pulp, paper, & building products
Delta Airlines: Atlanta based air carrier
United Parcel Service (UPS): Largest single transportation network in the world.
Both help move Georgians and cargo across the globe every day.
Shipyard at Savannah & Brunswick also play a role in international shipping.
Personal Income Tax
Revenue is used to pay for state & local programs like education, roads, public transportation, police & fire protection.
Citizens pay taxes…
citizens use services.
GA Constitution says that the State must operate under an annual budget.
That budget details how much money is spent where.
The General Assembly must pass an “appropriation” which permits the spending from the budget.
Many levels of the State Government participate in planning the budget.
Money is the medium of exchange to buy goods and services.
Your income provides you with money to spend on whatever you choose.
People use CREDIT to buy something now and pay for it later.
When you use CREDIT, you have to pay the amount you borrowed plus and additional amount of interest.
Banks make money from interest payments – interest is a fee paid for the use of someone else’s money.
Putting money in a bank or credit union can make you EARN interest.
Saving money allows you to increase your money by INVESTING.
Ways to Invest Your Money:
Stocks and Bonds
(your own or someone else’s)
The Federal Deposit Insurance Corporation (FDIC) was created in the New Deal by FDR in the Great Depression.
The FDIC provides insurance for Americans who have money in banks.
The FDIC insures banks in case of bank failure.
If a bank fails, $100,000 of your money is insured by the Federal Government.
Since the FDIC was created, no American has lost money to a bank due to bank failure.