An online financial literacy resource
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Help & Support
Homepage
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Glossary
Help system
Resource bank
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Money Matters
What money is
Where money comes from
Where money goes
Financial records and information
Spending money and budgeting
Risk and return
Making personal life choices
Consumer rights and responsibilities
Implications of finance

Life Changes
Having a baby?
First time parents?
Leaving education?
Leaving home?
Losing a Partner
Long term illness?
Managing the family
Recently unemployed?
Returning to work?
Struggling with debt?
Starting a business?
In retirement

Workshops
ATM cash machine simulator
Reading your meters
Top tips to save money
Word search game
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Tools
Budgeter
Savings calculator
Loan calculator
Mortgage calculator
Repayments calculator
Creditor letter writer
Pension calculator

Luanch the pop calculator

Where money goes

Almost everybody wonders where their money goes. Most people have complained about the amount of Income Tax, VAT, Council Tax or other form of taxation they have had to pay sometime during their lives. This section will help you to understand the different forms of taxation and what happens to your money.

Taxation is decided by local and national government. Local government sets and collects Council Tax while national government decides on the rates of Income Tax, VAT and National Insurance.

Choose from any of the following:

See 'Spending money and budgeting' section for information on household expenditure, planning and budgeting.

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