Chp 11, Lesson 3 Project.

Fact #1 -Net cash Flow.

Your net cash flow and your net worth can change from month to month.

​Fact #2 - Positive Cash Flow.

If you have a positive cash flow, you spent less than you earned and created a surplus.

Fact #3 - Deficit.

One of the ways to cover a deficit is to take out a loan.

Fact #4 - Liabilities.

Taking out a loan increases your liabilities.

Fact #5 - Positive Cash Flow

A positive cash flow increases your net worth and a negative cash flow decreases it.

Fact #6 - Small Savings Account

A small savings account are beneficial to handle unexpected emergencies.

Fact #7 - Savings account

A savings account will help you meet your financial goals.

Fact #8 - Interest income

Money that is saved earned interest income.

Fact #9 - Spending less to save

If you buy items on sale you can save a portion inside a savings jar.

Fact #10 - Taxes

Taxes are an everyday expense of life that provide important services.

Question #1 - Ratio

How to increase your ratio?

Question #2 - Payday

Why should you put money away each payday?

Question #3 - Tax

Why are taxes important?

Question #4 - Taxes

How do you determine each tax you owe?

Question #5 - Tax payments

How do you make income tax payments to the IRS?

Vocabulary #1 - Cash Flow

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Vocabulary #2 - Income

Vocabulary #3 - Take home pay

Vocabulary #4 - Discretionary Income

Vocabulary #5 - Surplus

Vocabulary #6 - Deficit