What You'll Learn:

• Personal finance is the management of an individual or household's financial decisions and activities
• It includes budgeting, saving, investing, retirement planning, taxes, debt, insurance, and credit cards
• The module will follow the financial journey of Jack, a 15-year-old with a lawn-mowing business, to understand personal finance and prepare for future financial success

What You'll Learn:

• Jack earns money from his lawn mowing business and birthday gifts
• He has two options regarding how to spend his money: buy things he wants or needs, or save the money for later
• Jack has created a budget to manage his income and expenses, and aims to save money to invest in expanding his business for future financial success

What You'll Learn:

• Canada has three levels of government: federal, provincial, and municipal, and citizens are required to pay taxes to fund social services and programs
• Taxes are based on income and are calculated using tax brackets
• Tax-Free Savings Accounts (TFSA) and Registered Retirement Savings Accounts (RRSP) are ways to save money tax-free

What You'll Learn:

• Loans involve borrowing a specific amount of money that must be repaid with interest within a set timeframe
• Lenders will usually require borrowers to prove their ability to repay the loan and may request collateral in the event of non-payment
• Loans are used for a variety of purposes, including mortgages, credit cards, and small business investments

What You'll Learn:

• Jack needs to purchase equipment for his lawn mowing business, and he can pay for it using debit or credit
• Using credit cards responsibly can have advantages for Jack, such as earning rewards and building a good credit score
• Good credit scores can lead to lower interest rates, better rewards, and easier access to loans, insurance, and cellphone plans

What You'll Learn:

• Insurance is a contract where an individual or entity receives financial protection from an insurance company against losses
• Insurance companies pool clients' risks to make payments more affordable for the insured
• Companies offer different types of insurance such as auto, health, life, homeowners, and property insurance