Banking
Adding or putting money into an account.
Deposit
You should always spend more money than you have.
False
Julia makes $100.00 babysitting and $50.00 for household chores each month. What is her total monthly income?
$150.00
A document that lists the details of an employee's pay
Pay stub.
What are some ways to earn money?
Allowance, Babysitting, Lawncare, Paper route, Refereeing, Shovelling snow
Taking money out of an account.
Withdrawal.
False
David's expenses for each month are $40.00 for his phone, $20.00 for eating at restaurants, and $30.00 for savings. What are his total monthly expenses?
$60.00
What does EI stand for?
Employment Insurance
What are some limitations to earning income?
Time, Transportation, Skills
A plan for how to save and spend money.
Budget
Take home pay and net pay are the same thing.
True
Sharon's montly income is $200.00. How much does she make in 4 months?
$800.00
What is the retirement income plan operated by the government of Canada called?
Canada Pension Plan
Ryan started a landscaping business. He earns money each week mowing lawns, pulling weeds, and trimming hedges. He is paid by the hour. The money he earns is called
Income
Money the bank pays you for keeping your money in the bank.
Interest
Savings accounts pay interest.
True
Christopher's income each month is $1,000.00. His expenses are $550.00 each month. What are his savings for each month?
$450.00
Total pay before taxes and other deductions
Gross Pay
These types of bank accounts typically do not have any fees.
Student & Youth Bank Accounts
What does ATM stand for?
Automated Teller Machine
You must be 16 years old or accompanied by a parent or legal guardian to open up a bank account.
True
Briana saves $25.00 each month to buy a computer. The computer costs $500.00. How many months will it take for her to save enough money?
20 months
Earnings after deductions and taxes
Net Pay
Membership is required to access these financial services.
Credit Union