Financial Literacy

An hourly rate. The government sets the minimum hourly rate that you can be paid.

This is when prices go up, so your money has less buying power.

The income that you do not spend. You can put this money in a bank account or invest it.

What does EFTPOS stand for?

What does PAYE stand for?

A way of managing the risk of financial loss if something happens to your possessions, health or ability to earn money.

Debts that you or an organisation have. For example, debts like hire purchase, loans and mortgages.

Goods or services that you need to be able to function and live. These include food, clothing, shelter and health care.

A time period that starts on April 1 each year and ends on March 31 the following year.

Someone who owns shares in a company.

A large, one-time payment of money you use to pay off a debt or invest in a fund.

The percentage that you are charged when you borrow money or that you receive when you save money.

The amount that goes into your bank account each payday.

Someone who offers you quick cash so you can get money now for a very high interest rate.

The money you can get to buy goods or services, then pay for them later.