Page 175 - Revised Maths Wisdom Class - 6

Financial Literacy (Electronic Payment System) 173

Gas Stove
Milk Video Game

Role Play

Aisha and Varun were discussing their expenses, savings and investments. Like everyone, they were calculating
their expenses and savings. In the meantime their newly-wed friends came. Tea and snacks were served. But
everyone was concerned about payment methods. Nirmal and Nia had many questions, to which Aisha, Varun and
Ajay were responding well. Shreya, Ajay’s wife was good at banking so, she gave a few safe and important tips.

Aisha : Hey everyone! To relax a bit, please have some coffee and biscuits. I have made these snacks too.

Varun : Please bring my savings report so that we can compare our savings.
Aisha : Alright, but do you need all the savings account and
recurring deposits details too?

Varun : Yes, only then we can compare our expenses. Most of
the expenses are done digitally.
Nia : Do you both have savings account and recurring
deposits? What are their uses?

Aisha : Savings account is a basic account type that lets you
deposit money safely with a bank. It gives access to
your money whenever you need. We both even get a
good rate of interest.
Varun : The RD account is where investors invest a fixed sum each month. Investors make a one-time
investment in an FD for a set period of time.

So we deposit every month to save. We even have a Fixed Deposit which we are saving for our son’s education.

Ajay : So, how did you pay for your daughter’s education three years back? It was a hefty amount.
Aisha : We were saving for her too. We used one of our FDs for her education. But we also took education loan
for her.
Nirmal : But Varun you have a lot of expenses too. How do you manage? For example—paying house rent,
maid fee, school fee for son, groceries, car petrol and maintenance. We are very much bounded.

Varun : You’re right, Nirmal. There’re lot of expenses. That is why Aisha and I have been managing it together
since our wedding. Aisha pays house rent and groceries amount by credit card. I pay maid fee by cash
and son’s fee through Internet banking. This is how we have proofs and receipt of payment.