Super
Money your employer puts aside to help fund your retirement.
What is superannuation?
Money paid to the government to help fund public services.
What is tax?
Setting money aside regularly for future goals is called this.
What is saving?
Putting money into something with the aim of growing your wealth.
What is investing?
A plan for how you will spend and save your money.
What is a budget?
The stage of life superannuation is designed to support financially.
What is retirement?
The Australian government organisation responsible for collecting taxes.
What is the Australian Taxation Office?
Money left over after spending less than you earn.
What are savings?
The possibility of losing money when investing.
What is risk?
Money coming into your budget.
What is income?
The money earned by your super investments over time.
What are investment returns?
This tax is added to most goods and services sold in Australia.
What is GST?
Items such as food, rent, and electricity are examples of these.
What are expenses?
Owning a small piece of a company through the stock market.
What are shares?
Costs that stay roughly the same each month, such as rent.
What are fixed expenses?
Extra money you choose to contribute to your super fund.
What are voluntary contributions?
If you've paid too much tax during the year, you may receive one of these.
What is a tax refund?
A financial goal that might involve saving for a house, car, or university.
What is a long-term goal?
The money earned from an investment, usually expressed as a percentage.
What is a return on investment?
Costs that can change from month to month, such as entertainment.
What are variable expenses?
Combining multiple super accounts into one account.
What is super consolidation?
This document summarises how much income you've earned and tax you've paid.
What is an income statement?
This type of spending is for wants rather than needs.
What is discretionary spending?
Spreading money across different investments to reduce risk.
What is diversification?
When your spending is greater than your income.
What is a budget deficit?