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"sir this cheeseburger is $2" "can I pay that with a bank loan?"
@ShricharanArumugam95
4 жыл бұрын
That is my life rightnow
@NightmareCourtPictures
4 жыл бұрын
@Dark Thoughts lmfaooo
@Mr123awesomecoolio
4 жыл бұрын
Yes, that is what he said
@stevethea5250
4 жыл бұрын
@@NightmareCourtPictures do good guys still do that? Never knew that was the model
@bbq1423
4 жыл бұрын
Isn’t paying by credit paying by loan?
@tb0eg
4 жыл бұрын
This guy is basically a student teaching his homies, engagement levels are unreal.
@iamggpanda
4 жыл бұрын
As a teacher, I strive to get this comment about myself someday!
@Coderedpirate
4 жыл бұрын
Girish Ganesan the secret is putting yourself at the students level. By respecting them, they mutually respect you
@iamggpanda
4 жыл бұрын
@@Coderedpirate Yes, that's what I do every day. The point with my country's students is that you need to tread the line carefully or they'll simply go over your head. I believe it also depends on the student culture. I know of some colleges where such teachers won't be appreciated by either the staff or the students or sometimes both. Thank you for your reply though. Will do my best everyday!
@Coderedpirate
4 жыл бұрын
Girish Ganesan good luck in your teaching! I’m sure whoever is your student will greatly appreciate it
@pk7685
4 жыл бұрын
IKR. As a teacher, this class is what every teacher wants while teaching.
@ThePipton
4 жыл бұрын
Cash isn't free either. The cash has to be picked up, usually by some cash transportation service, and brought to the bank which also charges you for converting cash to digital money so you can use it to pay taxes etc.
@xavierfaust9417
4 жыл бұрын
When you choose something, it doesn't have to be the "best" option, just the least worst.
@rioforce
2 жыл бұрын
What? My bank pays *me* to keep my money digital in the form of interest.
@jeremywp123
4 жыл бұрын
*Me is doing math* *me takes break to eat lunch, me ends up watching math video on my break....*
@Gnaboaix
Жыл бұрын
I keep thinking that stroke on whiteboard is a hair on my screen.
@MohitPatel-mi7si
4 жыл бұрын
I'm way past my schooling or even college days but once I saw Eddie Woo video. I have watched 4/5 of his videos, all are interesting to watch even though not much use to me anymore. Maybe would come in handy to teach my future children if they are interested in mathematics.
@susisiebert5942
4 жыл бұрын
The students are so rude talking the whole time...this guy deserves a medal
@odomi121
4 жыл бұрын
The most sinister thing about credit cards is not the fees they charge to the business owner, nor the exorbitant interest rates (up to 24.99% in some places) they charge, but whenever they approve a new CC applicant for credit, CC companies don't actually have the amount of cash in a vault somewhere to loan out, but only a small percentage of it, they just create this new money out of thin air like magic money. Which in turn devalues any money YOU have that you already earned in a savings account or cash in your wallet. Because every time any bank generously approves any type of loan increases the total global money supply.
@Vikkin1218
4 жыл бұрын
where"s gold, salt and goods from the list?
@carultch
4 жыл бұрын
It's a math class, not a history class. The subtext of the question is methods of payment that are contemporary and applicable to the lifetime of the students in his class.
@bantamsghost9468
3 жыл бұрын
@@carultch What about Goats? and Mob Protection Services? ...Huh! ?!
@satibel
3 жыл бұрын
you haven't talked about payment in kind, which is used in some places, basically instead of swapping cash, you can trade service for goods or vice versa, for example fixing the butcher's computer and they give you a prime cut in return.
@danishbiochem
2 жыл бұрын
When credit card didn’t come up in the first 30 seconds I knew this wasn’t shot in America…
@Jeff_Coble
4 жыл бұрын
I paid for a meal at a restaurant once by doing dishes and cleaning up.
4 жыл бұрын
Students trying to figure out why they have to pay for things with their own money.
@gingerLad
4 жыл бұрын
UK follows the EU rule that you can't charge extra for credit card as it punishes those most in need... but you can refuse
@cannibalco0kie719
4 жыл бұрын
Finally, a lesson that I will use in real life
@colby9108
4 жыл бұрын
I would disagree and say that paying with credit is cheaper. 1. Paying with credit you obtain points/cash back 2. Paying with cash you are foregoing these benefits 3. Be smart with a credit card and it is the cheapest way to pay
@tomast1323
4 жыл бұрын
Cheque that out...
@keiganogrady7481
3 жыл бұрын
There's also the technique where if an item is $1.07 you pay cash and save 2 cents but if it's $1.08 you pay debit to not pay an extra 2¢ (assuming you have unlimited tap)
@DELTAREDGHOST
4 жыл бұрын
That will be 1$ uhh yea can I pay in these civil war railroad bonds
@stevethea5250
4 жыл бұрын
@Harry pay less pay cash
@austins.9856
4 жыл бұрын
💀💀
@timothyc.gratta4793
4 жыл бұрын
LMAOOOOOOO can I like a comment 1000 times pls
@eiyuu257
4 жыл бұрын
HQVideoDude I was about to comment this. I’d pay for whatever it was and keep the bonds.
@xenxander
4 жыл бұрын
As those are worth a fortune.. yes, yes you can.
@omegaRST
4 жыл бұрын
The fact that I watched this guy for fun with no particular interest in the topic shows how good a teacher he is
@andycpu
7 ай бұрын
Same here...
@DaroVHS
4 жыл бұрын
-"How can you pay?" -"Money" -"Be more specific"
@teodorpc
4 жыл бұрын
hahahaahhaaha .lol lmao xD
@kejdisula1670
4 жыл бұрын
Yeah, cause money its just a medium of exchange. It could be anythin like cigarettes, telephones , computers etc.
@HalfBakedHeroes
4 жыл бұрын
@@kejdisula1670 no.
@TactlessGuy
4 жыл бұрын
@@HalfBakedHeroes Brilliant and insightful comment. You get a cookie!
@rayray0987
4 жыл бұрын
The thing that replaced bartering.
@petertaylor5657
4 жыл бұрын
The fact that you have to have to keep shushing your mathematics classroom because they are overly enthusiastic in their engagement of the topic gives me a warm fuzzy feeling and hope for the future. thanks mate.
@Mrwrenchifi
4 жыл бұрын
Peter Taylor this is what my program was like back when I was in tradeschool. Everyone loved being there.
@Eric-up8sc
4 жыл бұрын
What class is this if you know?
@thebattlefieldnick1
4 жыл бұрын
Its usually like this untill the actual math starts.
@juzhang6665
4 жыл бұрын
More like a economic class than a math class.
@rickytaylor7151
4 жыл бұрын
fr couldn’t agree more - nice last name :)
@jeffthethird268
7 жыл бұрын
Man I wish this dude was my math teacher
@CatSmithers
7 жыл бұрын
Peteto Chibs I wish he was my teacher because I think he is HOT. And YES I am DEFINITELY ALLUDING TO IT. *drools*
@jamesa.646
4 жыл бұрын
@@CatSmithers Weirdo
@FeLiNe418
4 жыл бұрын
@@iflex7640 Same question can be applied to you since you cannot figure that out by yourself.
@martssss
4 жыл бұрын
i wish my maths lessons wherelike this
@doihaveto3430
4 жыл бұрын
i wish he was my husband
@hiimneruats4421
4 жыл бұрын
Dude why am I watching a math video 3 in the morning
@lukemilner9787
4 жыл бұрын
I'm watching at 3:45am and I have to get up early
@dimitrakisaimegia3852
4 жыл бұрын
2:45 here lol
@gdal3
4 жыл бұрын
Same wtf 😂 is this a KZitem algorithm thing?
@dimitrakisaimegia3852
4 жыл бұрын
@@gdal3 ahahaha that's funny.
@damionmorgan4190
4 жыл бұрын
I’m watching at 3:28 on a SUNDAY 🤦🏽♂️
@inef85
4 жыл бұрын
2014: cash is cheaper 2020: not if it's contaminated
@andyandys5356
6 жыл бұрын
the comments saying he took too long to explain .. i guess you people have never been to school in your life.. its called teacher interacting with students
@burkanottere9692
4 жыл бұрын
its not useful tho
@fahimzahir9587
4 жыл бұрын
Burkan Öttere that’s relative. Objectively his job is to explain in as many ways as possible to ensure all students understand.
@burkanottere9692
4 жыл бұрын
@@fahimzahir9587i think it's really boring
@gustasjaskulis7997
4 жыл бұрын
@@burkanottere9692 i think ur not open minded enough and definitely havent gone to school in your life
@arthurgraton7165
4 жыл бұрын
We have gone to school. That's why we're wondering why he's doing so much explaining.
@cameronmcmillan1427
4 жыл бұрын
I love seeing financial literacy being taught in schools
@stevethea5250
4 жыл бұрын
What next
@jeffbezos7368
4 жыл бұрын
Cameron McMillan okay Cameron McMillan
@EncourageSquirt
4 жыл бұрын
@@stevethea5250 Common sense hopefully.
@cgme7076
4 жыл бұрын
*Principle walks by* “Is that applicable stuff being taught? If those kids aren’t integrating with 3d objects how do you expect them to understand basic finance? How sickening...”
@MaxMckayful
4 жыл бұрын
This isn't so much direct financial literacy, it's a lesson on how financial systems work. Semantics though. I'm just glad to see a lesson with practical, real-world application. The students too probably. Hey kids, here's how our society actually works!
@eoinmcgee245
4 жыл бұрын
Can’t believe no one said “ pay with sexual favours”, disappointed is an understatement
@JelloTricks
4 жыл бұрын
Eoin McGee it’s 2019, you won’t see that kind of humor anymore
@eoinmcgee245
4 жыл бұрын
Jello feel shit just want some humour back in my life
@adamphillips4037
4 жыл бұрын
Jello Ok boomer
@eoinmcgee245
4 жыл бұрын
adam phillips ‘ok boomer’ you probably older than me
@adamphillips4037
4 жыл бұрын
Eoin McGee meant the other guy 🤯🤯🤯🤯
@dev4965
4 жыл бұрын
Input: I see that everyone hear is complaining about how this topic could've been explained in 30 seconds yet Mr. Woo here explained it in 12 minutes. It's not about the time the teacher is taking to explain the topic, it's about the engagement. The teacher made the time bearable. In my math classes easy topics that could've taken 10 minutes turned into 45 minutes and it was so unbearable because my teacher wasn't as active or engaged with his classroom as this teacher is. Just take that into consideration.
@daverhoden445
4 жыл бұрын
.... And then you forgot the lesson right after the exam.
@skilletpan5674
2 жыл бұрын
It depens on the students as well. Sometimes you will just get a class that just doesn't care.
@Tonywirthfilms
4 жыл бұрын
I had my hand up the whole time he never picked me :(
@jasertio
4 жыл бұрын
F
@prettypointlessvideo
4 жыл бұрын
F
@basantagoswami
4 жыл бұрын
F
@noahalexander2019
4 жыл бұрын
F
@pracha95
4 жыл бұрын
F
@EtwasMartin
4 жыл бұрын
People saying he took to long: 1.) he manages to get the class involved in the topic and think for themselves about the topic 2.) he ensured to get EVERYONE along the ride of learning. Some kids are slower than others. He kept the quicker ones engaged while giving the slower ones time to follow.
@MajkaSrajka
4 жыл бұрын
Proof that classrooms are bullshit? ;P
@stevethea5250
4 жыл бұрын
@@MajkaSrajka he got the kids engaged it's so refreshing to see
@zel3888
4 жыл бұрын
agreed ... he's an excellent teacher
@cgme7076
4 жыл бұрын
The Caretaker :: But the internet exists. That is no longer true.
@gabrieldarce1991
4 жыл бұрын
@The Caretaker That is true, but explaining topics will grant students a far higher level of actual knowledge rather than rote memorisation. I guarantee you ALL of those students will gain AT LEAST the minimum 5 GCSE minimum required for passing secondary education AND be in better spot. I'm sure he's not showing the rest of the lesson which will be redoing problems and calculations which will cover the majority of time.
@johnv5129
7 жыл бұрын
The real advantage of cash: you don't have to declare it
@aysam2971
4 жыл бұрын
Don't you though!?
@haliax8149
4 жыл бұрын
@@aysam2971 Yes actually, or you'll get busted for tax evasion.
@Wileyg4lify
4 жыл бұрын
If you go to another country and try crossing with 10,000 dollars without declaring it and tell me what happens
@kyngk0ng
4 жыл бұрын
ay Sam /rwooosh
@Farsmezan
4 жыл бұрын
It depends on the amount, it's illegal for a business to get a high amount of cash from one consumer. And you will face difficulties if you did that after a bank robbery. Check the exact laws regarding this in your country.
@taybo1621
4 жыл бұрын
This is what school is meant to be about
@Andreas4696
4 жыл бұрын
Really? He explained something in 12 minutes that could've easily been explained in 2.
@Ken.-
4 жыл бұрын
2 minutes? Businesses have to pay extra to credit card companies, so that's why some businesses will charge less if you pay in cash. About 10 seconds.
@giannisniper96
4 жыл бұрын
@@Andreas4696 but it would not have been as effective
@Andreas4696
4 жыл бұрын
@@giannisniper96 Like the other guy said, it could've been summarized in about 10 seconds, and explained in 1 or 2. That's more effective than wasting 10 minutes.
@justdom248
4 жыл бұрын
When would a company make you pay less if you pay with cash?Ive never seen that
@EctoGamer
4 жыл бұрын
*picks up gum* "It will be 55 cents, sir" "Ill write you a cheque ;)"
@Obisiks500x
4 жыл бұрын
"Just take the dam gum"
@elizabeth8720
4 жыл бұрын
I worked at a grocery store that only took Discover and no other credit/debit cards. Most people paid for their groceries by check. This was in the 2010s.
@EctoGamer
4 жыл бұрын
@@elizabeth8720 discover??
@elizabeth8720
4 жыл бұрын
@@EctoGamer Yes, Discover is a credit card company/bank in the US. I don't know why they took Discover but not Visa/Mastercard. They still don't take American Express.
@EctoGamer
4 жыл бұрын
@@elizabeth8720 how old is it?
@EAC7021
4 жыл бұрын
love the way the kids actually want to contribute, this man knows how to teach
@yodiig9504
4 жыл бұрын
Crazy how just 5 years ago a class of young adults didn't scream out crypto currency or bitcoin.
@cianaylward6181
4 жыл бұрын
Bitcoin would have been an incorrect answer cause you couldn't pay for anything in a store with it 5 years ago. And it was 5 years ago so about 3 years before the world was actually talking about it as a household term like they do now.
@yodiig9504
4 жыл бұрын
cian aylward true that mate. There was a few stores that did accept it back then though. But very little places
@Yui-pm3ql
4 жыл бұрын
I’m sure they tell all their bar friends now that they should have
@DB-pt6zj
4 жыл бұрын
Well, people still don't.
@YamekDrope
4 жыл бұрын
that's exactly what i thought
@mepooloo
4 жыл бұрын
Paying with a credit card is paying with a bank loan.
@cambiso1731990
4 жыл бұрын
Paying with a credit card is like using a friend money. You either pay them back or don’t
@Farsmezan
4 жыл бұрын
@@cambiso1731990 try that, and behind bars you will be.
@dumbdickler670
4 жыл бұрын
@@cambiso1731990 good luck with that!
@walterpu8357
4 жыл бұрын
@hammam hraisha buy a Chess burger for 3 bucks, fly to Africa and never come back to avoid paying that
@Ken.-
4 жыл бұрын
A chess burger?
@inigo8740
4 жыл бұрын
"Cheque isn't really used anymore" *France has now been triggered*
@lukewarmbeverage1931
4 жыл бұрын
Czechs are triggered also
@Farsmezan
4 жыл бұрын
@@lukewarmbeverage1931 .. where are Czech people? Are they from Kazakhstan?
@giorgaz8592
4 жыл бұрын
Chequemated
@giorgaz8592
4 жыл бұрын
@@Farsmezan Czech people are from Czech republic, Kazans are from Kazakhstan.
@Farsmezan
4 жыл бұрын
@@giorgaz8592 .. Czech Republic, where is it? America, Asia, Europe?
@iamcarbonandotherbits.8039
4 жыл бұрын
Creating a lesson plan is so much harder than people think, the guy deserves a medal for getting the class to pull in the same direction, with such enthusiasm.
@skilletpan5674
2 жыл бұрын
I've heard of them.
@jebronlames4559
4 жыл бұрын
I have no idea why I'm here, I just like to watch him talk
@megacahh870
4 жыл бұрын
I want this dude as my math teacher....
@hamzahhammoud6960
4 жыл бұрын
Megacahh that is economics i think
@Farsmezan
4 жыл бұрын
I just studied math at school but I had the typical mindset that math is hard. All this changed when I was trying to count how many words can be made out of 26 letters, and size of each word starts from one and ends at 5. I discovered many things that I had no idea about. Such as pascal triangle and the statistical things related to it. Later, I believed in myself that I can rediscover math and I started to find how to calculate area of shapes, and I did a very good progress. Later, I worked as a salesman and I was checking every number. I checked if the accountant calculated my commission correctly or not. At first, I insisted that he made a mistake because he is old and can't see well. But, I figured that he excludes taxes from sales then calculates commissions. I learned that I can't figure everything out of my head, and I need to know how things are done the right way. Also, as a salesman my customers asks me to calculate the area of complex shapes. So, I figured out how to do it correctly, but I hate doing it. As it takes time, and some customers have no idea that it takes time so they get angry or makes you angry when they don't buy. Anyway, I can teach you math. Based on my way, not based on text book. In another words I will not give you a fish, but I will teach you how to catch a fish.
@Farsmezan
4 жыл бұрын
Also I don't like this teacher. He wants the customer to pay for everything which I think isn't necessary because every business I have seen make benefits 2 to 10 times the cost of everything. I mean if an item costs you 10 dollars, and this cost includes everything from your salary to the rent and AC. You can sell it for 20 to 100 dollar. Be sure if the economic was very bad, and a business is still running, that business overprice items to 10 times and maybe more. And those who are the first to close, not complete failures. But their prices were less than 2 times above the cost. In another words, the benefit they make is just enough to let you pay your bills on time. I prefer the not greedy pricing as I support the consumer best interest. But if you are a selfish business owner, you will be greedy and as an employee you will have a secure job as the business owner doesn't feel effected by economy. You want to be the next billionaire, be greedy. You want to stay where you are, find the consumer best interest. And the path between the two is the best. Slowly but surely.
@Brauket
4 жыл бұрын
Faris Mizan have you done any research on Nikola Tesla and his beliefs around the number 3, 6, 9?
@Farsmezan
4 жыл бұрын
@@Brauket .. I just know as much as you know about Tesla. I know he thinks 3, 6, 9 are very interesting. But, I don't know how he figured that they are interesting. For me, They are no more than 3 multiplications. But once someone gets the same intuition and experience of Tesla, then figuring out why 3,6,9 are interesting will be possible. As I said earlier we can't figure everything out of our head, we need to understand how things actually work, and what things actually are. Example, A hacker can't hack a computer if he doesn't know how it actually works. And, chief can't make a delicious dish if he doesn't have a good sense of taste.
@blakelandry886
4 жыл бұрын
Am I the only one upset that two 1L soft drinks are $2.40 and one 2L is $2.50?
@matthew8153
4 жыл бұрын
Blake Landry That does seem bass ackwards
@josefernandocortinarodrigu8796
4 жыл бұрын
I believe it's true. It cost more 2L than 2 of 1L but I don't remember why. There is an explanation of production I think
@spandexter1234
4 жыл бұрын
I'm pretty sure it's because of a tax on sugar. There would be 10% tax on 15g of sugar then 15% tax on 20g of sugar. I don't actually know just a guess
@xanny7373
4 жыл бұрын
Selling 1L = higher profit selling 2L = get your money faster
@ml8018
4 жыл бұрын
It means that the business pays less than 10c per L of soft drinks
@chrismr3972
7 жыл бұрын
Wish someone would have said "Part exchange" or "Barter"!
@TheAnantaSesa
7 жыл бұрын
+Peteto Chibs; that's what i thought "lay-buy" was about. Must be like layaway. Hadnt heard that where i'm from.
@chrismr3972
7 жыл бұрын
Well, if it were post-apocalyptic and there was no cash, how about alcohol :o)
@radon6317
4 жыл бұрын
That's what I thought as well
@g0mium
4 жыл бұрын
can we clone this guy to teach every subject in every school in the world?
@vineetmishra2690
4 жыл бұрын
Plenty of school children will heckle him. The world's children aren't brought up the way Asian children are
@nicovalenzuela4044
4 жыл бұрын
vineet mishra bruh the students aren’t Asian btw, they’re Australian
@vineetmishra2690
4 жыл бұрын
@@nicovalenzuela4044 yeah I realized. Statement still holds. Plenty of Australian children wouldn't appreciate him. I know some of my classmates were pure assholes
@livethefuture2492
4 жыл бұрын
Luckily the internet exists
@jofx4051
4 жыл бұрын
*YES*
@colebannon8725
4 жыл бұрын
11:41 Entire lesson is about credit cards as the reason it’s cheaper to pay cash teacher: why is it cheaper to pay cash Student: GST
@lakerfan2462
4 жыл бұрын
me, an american: cheque?
@Tetraglot
4 жыл бұрын
me, an american: check?
@mkobd
4 жыл бұрын
Me, a speaker of the correct English language: Check?
@garydunken7934
4 жыл бұрын
Check American. Cheque - British English, dude.
@jacksonm.6549
4 жыл бұрын
@lakerfan Did you Google the meaning? Outside of the US and maybe Canada, English speakers call it a cheque. "Check" means something else, eg check your wallet for change. And like this teacher said, nobody outside your country still writes cheques. We have Apple Pay, Google Pay, Samsung Pay, tap to pay cards (debit or credit), cash or banking apps.
@mkobd
4 жыл бұрын
G Dunken British, Canadian, Australian, South African... American is just wrong, plain and simple.
@ethanyu422
4 жыл бұрын
hello everyone who this video showed up in their recommended 5 years later
@MSoave
3 жыл бұрын
Showed up in my recommendations a year after your comment. Lol
@sidespike6262
4 жыл бұрын
This dude explained a 30 sec idea in 12 mins. And actually made all those minutes quite bearable.
@SP-qi8ur
4 жыл бұрын
Isn't it bad that he explained it in longer time than needed?
@TommyCPVs
4 жыл бұрын
S P Have you never heard of teachers interacting with students to keep them engaged?
@scorcesetrackingshot8136
4 жыл бұрын
As a teacher, the hardest thing is filling up a full 50 minute class, some days we have 90 minute blocks, that’s when you use “meditation time”
@GEM4sta
4 жыл бұрын
@@scorcesetrackingshot8136 That's actually bonkers to me. There is so much to talk about that these idiots don't know... Literally none of the students knew how credit cards work...
@EndstyleGG
4 жыл бұрын
@@GEM4sta Bro they are literaly in school TO LEARN. How the fuck can you call them idiots???? Did you already know all the math in the world in first grade?
@Vv0nG3r92
4 жыл бұрын
Such a good explanation. I had a customer come into my auto shop a while back. I offered a cash deal to make the bill cheaper for this reason. He then yelled at me saying that cash is destroying our economy! Not sure what all of that was about. But i'm saving this video for next time.
@Michael-zn2jc
4 жыл бұрын
The best sign “We do not accept American Express”
@ChefClap
4 жыл бұрын
only had a problem using Amex in Europe stateside it's done me fine. point being I havent seen that sign in ages
@mina86
7 жыл бұрын
There are non-obvious costs of cash though: having to securely transport it to the bank and increased risk of being robbed. This risk does not exist with those other forms of payment. Those costs may still be less than surcharge on credit cards, I dunno.
@TheAnantaSesa
7 жыл бұрын
Counterfeit bills, mistakes in making change (being scammed when customer claims he gave a bigger bill). But yet gift cards give no discount for tying up your gift giver's money. And meanwhile you might be charged overdraft fees for trying to buy food when the clothier card is full of store funds.
@snakeonia7542
4 жыл бұрын
Allows inept people to be employed and not worry when handling cash. Yet to find anywhere that gives a discount for cash. Except shady pawn stores that never declare it as income.
@scottmorgan966
4 жыл бұрын
Not to mention it costs businesses to deposit money at the bank
@TheGamingSlate
4 жыл бұрын
You have a higher chance of credit card fraud than you do of being robbed person to person in any first world country regardless of how high the crime rate is in that given area. You can easily look this up. Credit fraud happens at a much faster rate per person using the service. It’s about every 2 seconds for credit fraud and every 1.6 minutes for robbery according to crime clock which is run by the fbi. That includes both in the street and building/property robberies.
@chrishubley7849
4 жыл бұрын
@@TheAnantaSesa I've found that pretty much any local business will give me a cash discount if i ask for it on a large enough transaction (mechanics, home repairmen, installation services, etc.). Also, some gas stations give cash discounts.
@yoitsgunattack
4 жыл бұрын
this dude looks like a cool teacher
@finalbossd
7 жыл бұрын
What about bartering? I'll give you a hamster in exchange for that teapot.
@upbeatheat
4 жыл бұрын
Thats a good deal
@Yui-pm3ql
4 жыл бұрын
Hamsters had much more versatile use before silicon dildos were invented
@aureliaavalon
4 жыл бұрын
@@Yui-pm3ql You seem to have much experience in that area
@tomast1323
4 жыл бұрын
Lol
@EternalSilverDragon
4 жыл бұрын
Make it one and a half hamsters and you've got a deal.
@daverhoden445
4 жыл бұрын
I finished high school before this guy was even born, yet I'm still fighting the urge to binge watch his math videos. He's good.
@TheAguydude
4 жыл бұрын
Part of the reason for $10 minimum fees is that the credit card companies generally charge vendors in the form: flat fee + %fee. If a customer makes a very small purchase, the flat transaction fee up being a disproportionately high portion of the bill.
@worldoftancraft
2 жыл бұрын
Even in present day Russia you won't be charged anymore than the pay
@gdgd5194
2 жыл бұрын
Look at that kremlin troll desperately trying to promote a shithole called rusdia :DD
@Samuri5hit84
Жыл бұрын
@@worldoftancraft People like to talk shit about communism, but in reality the leaders of Russia/USA are both equally as good and bad as eachother. I'm pretty sure schooling is also free there which means 90% of the population isn't indebted to the government or a bank for getting a good job. Correct me if I'm wrong.
@worldoftancraft
Жыл бұрын
@@Samuri5hit84 I don't comprehend the question. Today's Russia is having what you said in the reversed order of where we are going to. Because the designation is paid education. And be a beee-ding bi-tch of your master of Lyfe from a bank.
@jonathan-xn4ev
4 жыл бұрын
You forgot the main form to pay for something: BLOWJOB
@yousifmq
4 жыл бұрын
I like how vigilant he is, he hears everyone around him and doesn't ignore them, even when he is taking and others speak, he still hears them, we need more people like this
@Noe-gj9mw
4 жыл бұрын
This entire 12 minutes video in a sentence: Shops have to pay a surcharge when you pay with credit card meaning it costs them more when you use one, so that is why in some places paying with credit costs you more.
@rever4217
4 жыл бұрын
An acquaintance thought it was because the shop doesn't have to declare cash transactions and so come tax time it looks like the business has earned less and so get taxed less, whereas card transactions are all monitored.
@samyuj
4 жыл бұрын
and that sir is why i dont attend lectures!
@iamthinking2252_
4 жыл бұрын
And also on the side the upfront cost of getting a card reader and the ongoing cost for operating it (aside from surcharges on transactions)
@dolorik7013
4 жыл бұрын
He's more of a Demagogue, rather than pedagogue
@GreatAdos
4 жыл бұрын
Except in most places in Europe where it costs you exactly the same even if it's under 1 USD
@agirlisnoone5953
3 жыл бұрын
Teach: quick question or long one? Student: rambles on about a personal story Teach: not sure about the relevance, let's move on 😆🤣 Wish I could do that without offending!
@b1tfl1p
3 жыл бұрын
Honestly thats the best way to handle it. A lot of it is in the attitude that goes with it
@abnwtfwc07
4 жыл бұрын
I don't know why I'm on this video, but this guy seems like a cool teacher.
@topheye6318
4 жыл бұрын
That guy, his attitude, his class-managing skills, reminds me of my best teachers. This guy's a real pedagogue
@pk7685
4 жыл бұрын
This class engagement is a glitch. It will be patched in the next update.
@ilregulator
4 жыл бұрын
The fact that he teaches his students about finances and real-life applications in a math-class is making me happy
@jd9119
Жыл бұрын
Why? Most of them are never going to be in a position where they're going to need to set up a business with a cardservice company.
@CyberFlare-fn9kn
11 ай бұрын
@@jd9119it’s still a useful practical use of math and since they learned it they won’t be as scared if they even want to
@gogego998
4 жыл бұрын
2019 algorithm gang checkin' in!
@veegtec
4 жыл бұрын
Cash isn’t cheaper because there are costs associated to keeping the cash. Time costs to deposit at the bank, reconciliations, sure you may skim some off but you won’t skim all of it. Insurance for theft, loss. Leakage within the business, accessibility, ATM charges for the customers if it is a different bank...there is a long list.
@GoogelyeyesSaysHej
4 жыл бұрын
The cost of paying your employees to handle the cash each day is quite substantial if workers are unionized
@veegtec
4 жыл бұрын
@@GoogelyeyesSaysHej I would say even if they are not unionised.
@GoogelyeyesSaysHej
4 жыл бұрын
veegtec I would hope so but from what I’ve heard about the US many restaurant workers only make $2-5/hour there
@budgy221
4 жыл бұрын
With just 1 second of looking, everybody should be able to see that this guy is a great teacher
"lets put you on the other side of the counter" training them to work in retail lol
@abdoabdo-lt1tm
4 жыл бұрын
It might seems like he took so much time to explain such a simple concept, yet since I am a teacher now I know that delivering that perfectly to average school students in like 12 minutes is quite good to be honest. Understanding something is a thing but teaching it to others is quite different in terms of difficulty, since our ways of perceiving information could vary significantly.
@samanthapeters8314
4 жыл бұрын
This guy is Australian. He's teaching based on Australian economy. Not other countries economy.
@Farsmezan
4 жыл бұрын
In some countries the service is free or payed by the bank on behalf of business and consumer.
@JohnnySins69XO
4 жыл бұрын
Faris Mizan false
@Jetpans
4 жыл бұрын
@@Farsmezan The bank has no interest in paying on behalf of the business or a consumer. Because the bank is a "private" business which needs to earn money some way, and they do not profit if they pay for someone. They just take monthly fees or take a fee on purchase and that way they earn some money for providing their services.
@frederikbrandt424
4 жыл бұрын
kracker Yes they definitely do have an interest in doing that. They entice the consumer to have their money saved up in the bank by paying some of the debit card expenses. I have never heard of a bank that takes fee off of purchase. The only people taking fees are the company behind the debit card you’re using. Banks make their money from people taking loans, it makes no sense to charge people and that’s why there are no monthly fees to have your money in a bank, unless interest is that low.
@Farsmezan
4 жыл бұрын
@@Jetpans .. I said "in some countries". Do you know "all countries"? I am sure you don't, and I am sure you only think of short term financial interests. A bank can provide a service for free to popularize it and show how good it is. Later, when it's well known and popular the bank can make money out of this service. Otherwise, the service may never get popular.
@tenslein8977
4 жыл бұрын
I already knew that, but I'd never heard the word EFTPOS before.
@soubhadra
4 жыл бұрын
You never heard of Amazon Pay, Google Pay, PayPal, things like that? Or are you talking about the term EFTPOS? Damn, I tell stupid asking this question.
@tenslein8977
4 жыл бұрын
@@soubhadra The term EFTPOS.
@Blox117
4 жыл бұрын
@@tenslein8977 EFTPOS: Every Fuckin Time, Piece Of Shit
@dougmorrison1357
4 жыл бұрын
Yeah, it doesn't roll easily off the tongue does it! I'm nearly 70 years old and my Dad was partly responsible for the rollout of EFTPOS (Electronic Funds Transfer at Point Of Sale) in the UK. He always reckoned it was a stupid name: it's generic of course and Switch etc are proprietary versions.
@200odd300
4 жыл бұрын
2014: 2015: 2016: 2017: 2018: 2019: *Payin cash: why is it cheaper?*
@joshisawesome9700
4 жыл бұрын
One would question why I was never taught this in school
@Anankin12
3 жыл бұрын
Haven't you ever talked to or with the people selling stuff? Or used your brain? Because I never learned the stuff but still knew about it just by connecting the dots
@Anankin12
3 жыл бұрын
Ok this came out way more aggressive than I intended for, but I'm too lazy to change jt
@inef85
4 жыл бұрын
2014: cross out 'pay by check' 2020: add 'pay by bitcoin'
@Chuchumm
4 жыл бұрын
2020: add 'barter with toilet paper'
@wyattnyfeler7270
4 жыл бұрын
inef85 that’s more like 2016
@castridvd
7 жыл бұрын
Damnn, Eddie be flexin that ice.
@willd0g
4 жыл бұрын
David Castrillon a bit phoney
@slimeplort
4 жыл бұрын
All the people saying he took too long missed the point. He's not explaining the result, he's explaining how you get to that result. Understanding why is more integral then understanding how because you can take the why of what you've learnt and apply it to other things. He's an awesome teacher because he's not just feeding the students information, he's engaging them and teaching them the principles behind why things work the way they do. That takes time.
@jerrymouse6301
4 жыл бұрын
5 years ago : cash is cheaper Now in indonesia : OVO!! GOPAY!! DANA!! 😂😂😂
@Kavser
4 жыл бұрын
hahahaha
@vigd6298
4 жыл бұрын
They add admin charge
@jerrymouse6301
4 жыл бұрын
@@vigd6298 just a thousand for up to 10 million top up, pretty cheap
@vigd6298
4 жыл бұрын
@@jerrymouse6301 its just a matter of time until they starting charge same as bank (25.000 idr)
@jerrymouse6301
4 жыл бұрын
@@vigd6298 i dont think so, coz they one of a kind of fintech,it is different business with the bank
@mohitbling6658
4 жыл бұрын
RuPay charges only 0.01% compared to 0.055% of Visa and 3.5% of American Express. But it works only for domestic transactions.
@mryan89
4 жыл бұрын
Answer = bank fees. Saved you 12 mins
@bogdan3068
4 жыл бұрын
Seriously, this lesson did not need to be that long...and also who doesn't know this?
@gizdonk
4 жыл бұрын
He literally says mastercard isn’t a bank
@mryan89
4 жыл бұрын
gizdonk huh?
@gizdonk
4 жыл бұрын
nman4k MasterCard is not a bank
@mryan89
4 жыл бұрын
gizdonk I never said MasterCard (or Visa, Amex, JCB etc) was a bank. Merchants are charged transaction fees by their acquiring bank who in turn pays for access to the scheme networks (ie MasterCard). Therefore they are bank fees, understand?
@AlexanderKrivacsSchrder
7 жыл бұрын
This is so different compared to where I live. First, larger bottle sizes usually means paying less per unit, not more, and while vendors here also deal with surcharges, they don't (or aren't allowed) to discriminate their prices based on payment methods. In Norway (in 2011), only 6 percent of purchases were made with cash.
@zoeredadams
7 жыл бұрын
Alexander Krivács Schrøder then prices would be up slightly
@leddy_
7 жыл бұрын
The prices he used was fairly random. The unit price here is less when the size is larger.
@spletter94
7 жыл бұрын
i know that feeling. i to live in norway but havent used anything but visa for the 5 months maybe
@olanmills64
3 жыл бұрын
"Why is paying with cash cheaper?" Because the costs of producing, transporting, authenticating, securely storing, and other things* with cash are all socialized. When retailers insist that customers use cash, it means the whole society is using more cash than it otherwise would. This means the government is spending more to produce it, distribute it, guard it, and collect and destroy old cash. That's tax payer money. Banks need to have more storage and transport capacity for it, more ATMs etc. That's less money that could have been put towards customer interest payments or shareholder dividends, etc. *For example, theft and fraud are easier to accomplish with cash, which is like another cost in the system.
@unapatton1978
3 жыл бұрын
That is such an American answer. LOL I am very German in the way most still prefer cash and most small vendors will only accept that. I own a prepaid credit card for any transaction I do with American companies.
@edueuro96
7 жыл бұрын
Paying by cheque? Perhaps in Australia in the 90's but it is preferred payment next to cash in France still today.
@micmic007
7 жыл бұрын
in a shop?
@edueuro96
7 жыл бұрын
Yep, most places
@micmic007
7 жыл бұрын
good to know. and im shocked.
@Hair2U
7 жыл бұрын
It's true. I used to live in Australia, and now moved to France for work. Usually it's the seniors who use cheques. It gets annoying when you are stuck behind them at the shop checkout counters, and they take their sweet time slowly taking their cheque books out, signing it, and then the cashier verifying it.
@Thomas-kj8ct
7 жыл бұрын
When I was in France I was really surprised but I also witnessed the cheques. I payed with my phone (connected to my card and they were like wow, is that also possible? XD)
@tomobrien4149
4 жыл бұрын
This is wrong in most areas. By paying 0.43% ( not a typo..less than a half a percent ) to Visa my company had instant deposit to my account, didn't get mugged taking cash to the bank, and best of all...NO accounts receivable, NO deadbeats, no chasing money. As a result I kept my service dept. hourly rate LOWER. As a purchaser, if you always pay your CCs.on time it's cheaper and you are working with THEIR money for approx. a month. Rewards etc. are a bonus. NEVER pay fees... they can always be negotiated. All of this is called "M3" money if you want to learn about money supply and how it affects the economy. Last tip .. DESTROY YOUR DEBIT CARD! At least punch a hole through the chip. Serious people only, pls. since this is a vital subject to many people - email me if you have questions. As long as I don't get swamped I'll try to answer them. Obracing at metrocast dot net. And yeah, it is "net". Don't just reply here. That won't work.
@Weaver_Games
4 жыл бұрын
lol in Canada all the "cash only" stores are just tax dodgers.
@Zbieciu07
4 жыл бұрын
Cash can be more expensive (counting, holding, transport, security). This cost is already included in prices and it is much more higher than surcharge.
@inbuckswetrust7357
4 жыл бұрын
printing, counterfeiter
@swish6143
4 жыл бұрын
2% on every transaction? How much do they pay the cashiers?! Visas dividend has to come from somewhere and someone needs to pay for cash back,
@bobijogaming
4 жыл бұрын
Sebastian Roy People that don’t pay their credit card and are paying interests are the one making them money.
@shrikant11211
4 жыл бұрын
That was like almost common sense after the first half. But still a girl had to say it was because of GST.
@FFFFFFFFFUCKKKKKKKKK
4 жыл бұрын
what is gst
@shrikant11211
4 жыл бұрын
@@FFFFFFFFFUCKKKKKKKKK Goods and Services Tax which is levied by Govt. It applies to all Cash or Credit transactions.
@navrajsingh9719
4 жыл бұрын
@@shrikant11211 bhai tu india ki baate bahar mat kr india m tax bahut jyada h
@shrikant11211
4 жыл бұрын
@@navrajsingh9719 yahan GST aur commission ke beech ka difference bataa raha hun bhai.
@shanakatak8974
4 жыл бұрын
What she said makes sense in context, many small businesses and tradespeople will reduce the price if you pay cash. (GST is 10%) This is because the business won't record the sale on the books, reducing their reportable income for tax purposes.
@avatr7109
2 жыл бұрын
Wait a sec , In India we have , Googlepay , Phonepe , Razorpay , all these different UPI payments Nowadays literraly no one is carrying any Cash
@kindrogue5586
4 жыл бұрын
"If you were living in the 90s you could pay by cheque" France: Am I a joke to you?
@KayAteChef
4 жыл бұрын
There are Australians with cheque books and we do receive cheques (dividends, refunds, etc) but it has become very uncommon in retail.
@matthew8153
4 жыл бұрын
KayAteChef Americans also still big in cash and checks.
@shazmunchdylbertoid
4 жыл бұрын
... yes.
@alexandrepereira4185
4 жыл бұрын
You meant all Europe
@fanQuasand
4 жыл бұрын
Alexandre Pereira in East of Europe are not places 'cash only' and there have never been checks, you can buy even matches by your card, it seems that cash will be old-fashioned there in few years
@cizma27
4 жыл бұрын
Also tax evasion. If you pay cash there is less evidence the sale ever took place, therefore making businesses tax evasion easier.
@ppsarrakis
4 жыл бұрын
this is the true answer.
@livethefuture2492
4 жыл бұрын
Or you could do some real shady stuff like using casino tokens to launder money.
@AneTorine96
4 жыл бұрын
I find this lecture quite entertaining, but this teacher is missing one essential point, and that is the fact that handling money also requires paying a substantial amount of expenditure. I'm not advocating for a cash free society in any way, but not pointing out the obvious fact that the required security measures related to dealing with cash is quite expensive, is a huge error.
@Test121212121212
2 жыл бұрын
You are right, but then it would also need to include credit card fraud on the other side of things. If someone contests a charge, you'll either have to pay or have to have significantly more sophisticated documentation than you would need for cash to 'prove' the purchase to the bank's satisfaction. That extra documentation (similar to security) is an additional cost to the business. From the point of view of the classroom exercise, including both is probably making the topic overly complicated. So it's probably fine that it wasn't mentioned.
@KyleSaxophone
2 жыл бұрын
The only trouble is, very few businesses offer a discount for paying cash. I've literally never seen it in my life. So the title of this video should be "paying cash: why it's cheaper if the merchant offers a cash discount." If they don't offer a discount for paying cash you are better off just using the credit card and getting your miles or points or whatever. Also, merchants that insist on a credit card minimum are violating the terms of the agreement with the credit card company and you can report them. So 99.9% of the time it is not cheaper to pay cash.
@raghadmosbah8143
4 жыл бұрын
Cant believe this video was made in 2014!!!!!!!! anyone from 2020????
@Lorryslorryss
4 жыл бұрын
I wonder whether it's "cheaper" because the cost of cash handling (yeah, there are costs) is somewhat fixed, wheras cards are per transaction. Would a small shop do better or worse if they cut cash handling all together and only used a cloud based point of sale like izettle or something? I imagine the answer to that might vary by country.
@MrMoccachinoo
4 жыл бұрын
Credit Card costs are usually in the range of couple of cents base fee + 1,5-3% from the transaction. For contactless payments some charge extra fee. Is apple pay / google pay gets involved, they want to have some money too. Cash handling cost are usually bellow 0,5%. These costs come usually from the security guys, who pick up your bills, and of course banks providing change. Now, small businesses can even avoid this costs, as they bring there money to the bank by them selfs (what they often do). On the other hand big chains, like supermarkets can negotiate better fares with the credit card company, whilse small stores have to pay the higher fees.
@AjvarD
4 жыл бұрын
In USA (and most other countries) it is ILLEGAL to refuse cash payments. Each US bill has text on it about how it is universal payment for all kind of debts or something like this.
@Lorryslorryss
4 жыл бұрын
@@AjvarD you're talking about "legal tender", which applies to debts, not simultaneous exchanges. So if you owe me already money, I need to accept cash, as you say. But, if I'm selling something and only accept cheese as payment, that's totally fine.
@AjvarD
4 жыл бұрын
@@Lorryslorryss Thank you.
@BrandonG1394
4 жыл бұрын
i hate when the teacher is teaching and then someone raises their hand only to tell a story that slightly relates to the topic. let the teacher finish. he's more interesting than your story lol
@beckjohn9404
7 жыл бұрын
Handling cash cost as well. Got to insure it, handle labour cost of handling cash, pay someone to deposit it etc...
@jd9119
Жыл бұрын
If you're going to accept cash, unless you're willing to risk getting robbed taking it from the store to the bank, you're going to want armored transportation service. And they're not cheap either. It can cost a small business quite a bit of money as well.
@nibbel94
4 жыл бұрын
Economist talking: I think the motivation is price differentiation. As a business I am worried about maximising profits. Ideally this means that the customer pays as much as he is willing to pay - so wealthier people pay more. I dont mean to say that wealthy people will just donate money to me for the hell of it, but rather that they pay no matter what I charge. So I charge more. But hang on - now the less wealthy people are no longer able to afford my product, so I am no longer making money of them. So I want to charge different people different prices. Commonly this is done by giving discounts to less fortunate groups, like students. Another way is coupons - if you have the money they are a waste of time, if you are poor you don't mind collecting them. Or you have to wait for the next sale. Or I try to sell you a disproportionately expensive premium version of the product. Or your barber wants to sell you overpriced hair products. In the example in the video its convenience. Il'l give you the pizza cheaper, but its gona be a little pain in the ass worrying about your wallet filling up with change etc. Hopefully it makes your parents pay the extra dollar while I don't lose you as a customer
@buzz_is_here
4 жыл бұрын
I just watched a guy tell me that card transactions cost money for 12 minutes. ggwp
@niklas6882
4 жыл бұрын
Youve never been to school, am i right? Some kids take a long time to understand things, and this video is made in a school. Its not that easy to have a class concentrated on one topic, keeping your youtube audience interested is much easier because it was every single persons decision to watch it
@vercingetorix3839
4 жыл бұрын
It takes 5 seconds to explain it. If you cant concentrate that long you're lost.
@canmetan670
4 жыл бұрын
Credit card companies like Visa or Mastercard charge "operational fees" to businesses therefore it's cheaper to pay cash. It was entertaining to watch but 12 minutes for 2-3 sentence information. Damn.
@dougmorrison1357
4 жыл бұрын
Don't forget the time he saved by making sure everyone remembers and there's less need for revision.
@tsblock5230
4 жыл бұрын
That one student talking about gst definitely doesn’t do tax fraud :o
@AkashYadavOriginal
2 жыл бұрын
UPI technology has sorted many of these problems. No one needs PoS machine just a QR code to pay no surcharge or anything, and instant bank to bank transfer instead unlike Credit cards where actual transfer is done later.
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