Legal tender: coins and paper money, as defined by the Government of Canada

Legal tender: coins and paper money, as defined by the Government of Canada, that must be accepted as payment for good or services.

• Coins are minted, or manufactured, at the Royal Canadian Mint headquarters in Ottawa or at the Mint�s Winnipeg branch. 
•  The Bank of Canada issues paper money, also known as bank notes.

To prevent counterfeiting, the production of fake money, Canada�s bank notes have certain security features. 

Let�s have a look:

New Canadian Bank Notes: Security Features

• holographic stripe
• watermark portrait
• see through numbers
• security threads

Counterfeiting -  Wesley Weber (Pleaded Guilty in 2001)

• Money changing purchasing power-
• Prices for goods & services increase over time: Inflation-
• Measured by the consumer price index: a basket of goods

What is income?

Income is money that an individual or business receives in exchange for goods or services.

•  Personal Income 
•  Gross income � the total amount of income received by a person.
•  Disposable income � the income we actually take home after taxes are paid. 
•  Discretionary income � income left after necessities are paid for 

The daily financial activities connected to using your limited income to satisfy all your needs and wants.