Financial LIteracy

A tax imposed on the sale of goods and services, typically calculated as a percentage of the purchase price.

Expenses that do not change from month to month, such as rent or car payments.

Debts or obligations that an individual owes to others.

Sale Price = Regular Price - (Regular Price x Discount Percentage).

A plan that outlines expected income and expenses over a specific period.

Income Tax is based on earnings, while Sales Tax is based on purchases.

Expenses that can change from month to month, such as groceries or entertainment.

The difference between an individual's total assets and total liabilities.

Expenses that do not fit into standard categories, often unpredictable.

List all sources of income and all expected expenses, then balance them.