Financial Literacy

A useful method used for calculating costs versus expenses is a...

• Spreadsheet

• Budget

• Cost Chart

• Bank Statement

In financial literacy, interest is...

• Something that interests you

• An unexpected expense

• An amount of money charged for borrowing money or taking out a loan

• Another word for income tax

An example of a "NEED" to budget for is...

• Hydro Electricity

• Air Jordans

• A Vacation

• Dinner at a fancy restaurant

Income tax is...

• Something that only exists in the United States

• Money that parents/guardians pay for each child they have

• Extra money added to a paycheck each month

• Money deducted from each paycheck by the government

Different currencies around the world...

• Have different and varying values from Canadian currency

• Often equal Canadian currency

• Always stay the same value

money earned or received

• Expenses
• Income
• Deductions
• Check

Tax on the value of a house, building or land

• Sales Tax
• Property tax
• Income Tax

the total amount of personal income before taxes and deductions 

• Net Income
• Gross Income

Tax on something you buy

• Sales Tax
• Property tax
• income tax
• payroll tax

the income that remains after taxes and other deductions

• Net Income
• Gross income