What is the provincial disability program in British Columbia?
Person with Disability Benefit
What is a budget?
A detailed plan for future spending and saving, weighing estimated income against estimated expenses.
Food and water, clothing, shelter/rent, and utilities are examples of what?
Needs
It is recommended that you spend around _____ of your monthly income on groceries and other food purchases.
15%
Define "exploitation."
The act of selfishly taking advantage of someone or a group of people in order to profit from them or otherwise benefit oneself.
What is income?
Money that you can get from benefits, work, or family and friends
When making a budget, your total expenses must not exceed your total:
Income
What is something you would like, but not necessary for survival?
Want
If you are on PWD, it is recommended that you spend $_____ on food every week.
$56
What is the CDIC?
Canadian Deposit Insurance Corporation - established by parliament more than 50 years ago to protect eligible deposits at member financial institutions
The minimum amount of income needed to secure the necessities of life is called the:
Poverty line
What are the 3 main parts that must be included in every budget?
Income, Expense, Balance
According to Maslow (1943), how many basic human needs are there?
5
What is an app for your smartphone that you can use to provide rebates if you use their service?
Rakuten and ibotta are examples
Can you name 3 institutions that protect your money by being a part of the CDIC?
Examples include: Bank of Montreal, Bank of Nova Scotia, Toronto-Dominion Bank, Royal Bank of Canada, HSBC Bank of Canada, First Nations Bank of Canada, Canadian Imperial Bank of Commerce (CIBC), Vancity Community Investment Bank, SunLife Financial Trust Inc, Coast Capital Savings Credit Union.
If you are living with a spouse, how much money will you get per month if you both have PWD?
Up to $2423.50
Vacation, medications, and parking are considered as:
Expenses
Spending money on items that change in price from week to week or month to month is also known as a____?
Variable Expense
If BC Housing costs 30% of your income, and your income is $1483.50, how much money will you have leftover for your needs and wants?
$1038.45
The best way to protect your money is to:
Put it in your bank account
______ is for people who have long-term barriers to employment. If you are on _____ you are exempt (AKA not required) to search for work.
PPMB: Person with Persistent Multiple Barriers Benefit
The budgeting worksheet has 4 basic steps to completing them. What are they?
Income, Fixed Expenses, Variable Expenses, and Balance
True or False: A budget can be created by subtracting needs and wants from your income
True
Name the 5 cheaper housing options that we explored in session 4.
Affordable rental housing, supportive housing, subsidized housing, Indigenous housing providers, addiction and recovery housing
If you take out a payday loan for 14 days, what is the annual percentage rate of interest you are likely to pay?
391%