1.2.5 Summary of key messages

From: Financial Consumer Agency of Canada

  • A job is the main source of income for most people, but there may be many other sources.
  • Deductions are taken off paycheques for taxes and to pay for social programs like pensions and employment insurance. The income that is left after deductions is called net income.
  • Prepare for a sudden loss of income by setting aside some cash every month for an emergency fund and by knowing where to turn for help.

At the end of the module, you will find an Action plan. This is a tool that you can use to track your progress and take the next steps to manage your income and expenses successfully in the future. Use the action plan as a roadmap for financial action!

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