How the economy works

Loans are money that is borrowed for a fee, called interest. Interest is the cost of using borrowed money and can be fixed or variable.

Taxes are monetary obligations that citizens and businesses pay to the government to fund public services such as schools, hospitals, and infrastructure.

Economic policies are tools that governments and central banks use to manage the economy and achieve certain goals.

Student contracts are legal documents that regulate the relationship between students and the educational institution, as well as the rights and obligations of students during their education.

"Managing Personal Finances" covers key aspects of money management, including creating a personal budget, which consists of several steps, the most important of which are monitoring your spending, the importance of saving and investing, and responsible borrowing.

Credit cards are a financial tool that allows you to borrow money for purchases, with the obligation to repay it later.

Savings are the portion of income that we do not spend but rather keep for a specific purpose. Savings are a key aspect of financial literacy and provide stability in life.

Personal financial goals help us clearly define what we want to achieve with our money, whether it's saving, investing, or fulfilling larger life plans.

Investing is the process of directing money into various types of assets with the aim of achieving returns and financial goals. It is a key tool for long-term wealth growth, protection against inflation, and achieving financial security.

Mobile banking is a digital service that allows users to perform financial transactions and manage accounts via mobile devices, such as smartphones or tablets.

Inflation is a continuous increase in the general level of prices of goods and services, whereby money loses value and purchasing power declines.

Economic cycles represent recurring phases of growth and decline in economic activity within the economy.