Unit 4 Personal Finance

Income What are the different ways of getting paid? (salary, wage, commission, etc…)What are the different ways of getting paid? (salary, wage, commission, etc…) What are the basic pay deductions? (E.I., C.P.P., etc...)What are the basic pay deductions? (E.I., C.P.P., etc...) What jobs lead to higher income?What jobs lead to higher income? What do you get from employment other than a paycheque?What do you get from employment other than a paycheque?

Spending What expenditures does an average household have?What expenditures does an average household have? What factors do people consider when spending money? (Price vs. Quality, features, etc…)What factors do people consider when spending money? (Price vs. Quality, features, etc…) What are the different types of stores people shop in?What are the different types of stores people shop in?

Saving What are the reasons and benefits of saving money?What are the reasons and benefits of saving money? How do you calculate interest earned?How do you calculate interest earned? Describe some of the various bank accounts available to teenagers from some of the major Canadian banksDescribe some of the various bank accounts available to teenagers from some of the major Canadian banks

Investing Explain various types of risky and safe investmentsExplain various types of risky and safe investments Acronyms…what do they mean??? (GICs, RRSP, RESP, …)Acronyms…what do they mean??? (GICs, RRSP, RESP, …) How does the stock market work?How does the stock market work? What are mutual funds?What are mutual funds? Where should I invest???Where should I invest???

Credit What are the different ways of borrowing money?What are the different ways of borrowing money? How do credit cards work?How do credit cards work? What are the good and bad things about having credit?What are the good and bad things about having credit? Learn how to calculate the cost of credit (interest)Learn how to calculate the cost of credit (interest)

So… Let’s look at business and money from a “household” perspective instead of a “business” perspectiveLet’s look at business and money from a “household” perspective instead of a “business” perspective How do households organize and plan for the money coming in and outHow do households organize and plan for the money coming in and out What if we have some extra money?What if we have some extra money? What if we need some extra money?What if we need some extra money?