Financial Literacy

The difference when expenses are greater than income

The difference when income is greater than expenses.

__________________ expenses are expenses that usually vary from month to month

This account helps you save for retirement with tax benefits along the way

Expenses are:

This account helps you save tax free for your child's education and also gives gov't grants

Personal budgets usually have two major categories.

This account provides tax benefits for saving in Canada. Investment income is not taxed.

A legal document that authorizes someone else to act on your behalf for health or legal matters

A document that lists the legal decision about what you want done with your assets when you die

__________________ expenses are expenses that generally stay the same from month to month

Water are considered

__ is a percentage of gross income paid by employees to provide retirement income

Sunglasses are considered

Budgets are important for:

__ is a percentage of gross income sent to the governments to pay for government services.

__ is a percentage of gross income paid by employees to provide temporary $ for the unemployed

Which of the following statements is false about budgets? (identify the incorrect statement)

What is the most common sources of income for secondary school students: