Personal Financial Literacy

Overview

Your student will be learning:

• how to define income tax, sales tax, and property tax.
• the difference between gross and net income.
• different methods of payments.
• how to balance a simple budget.

Resources

• Videos
  • Taxes. In this Education Galaxy video your child will learn the difference between income tax, payroll tax, sales tax and property tax.
  • Methods of Payment. In this Education Galaxy video your child will learn about different methods of payment such as cash, check, debit and credit.
  • Credit vs. Debit. Better Money Habits explains the differences in paying with a debit card and credit card.
  • Income. In this Education Galaxy video your child will learn about the two types of income, gross income and net income.
• Free Apps

• Websites
  • Hands on Banking. Hands on Banking is an interactive site where your child can learn about personal financial literacy, such as budgeting, saving, and checking.
  • Financial Soccer. Visa's financial education programs help consumers of all ages tackle the essentials of personal finance.
  • Determine Your Budget. TheMint.org allows your child to practice creating and balancing a budget online.
  • Charge! Sense and Dollars is a website where your child can create a virtual budget based on circumstances that mirror the real world.
• Books
  • Ultimate Kid’s Money Book by Neale Godfrey. This is a comprehensive guide including earning, spending, saving, and giving.
  • Taxes, Taxes!: Where the Money Goes (Money Matters Series) by Nancy Loewen. Your child will be introduced to taxes as well as some of the goods and services tax money has provided in this book.
  • Save, Spend, or Donate?: A Book About Managing Money by Nancy Loewen. This story tells about a brother and sister who learn how to manage money.