Ways to Pay
This card lets you buy things now and pay for them later, essentially acting as a short-term loan from a bank.
What is a credit card?
This is the legal obligation or financial state of owing money to a person, bank, or business after borrowing from them.
What is debt?
When you borrow money, interest is the price you pay to the lender. When you save money, interest is this.
What is the reward (or money earned / free money)?
This is the total amount of money you earn before any taxes, union dues, or benefits are deducted from your paycheque.
What is gross pay?
Finish the lyric: Billie Jean is not my lover. She's just a girl who thinks that I am the one! But...
What is "...the kid is not my son"?
Unlike a credit card, this card deducts money directly and instantly from your chequing or savings account.
What is a debit card?
Having permission or access to a pool of money set aside for you to borrow, with the expectation that you will pay it back later.
What is credit?
This type of interest is calculated only on the original amount of money you deposited or borrowed.
What is simple interest?
Also known as "take-home pay," this is the actual amount of money deposited into your bank account after all deductions.
What is net pay?
The admin team consists of Mr. Patenall, Mrs. Dunning and this Vice Principal
Who is Ms. Reynolds?
A secure, digital application on your smartphone—like Apple Pay or Google Wallet—that stores your payment card information digitally.
What is an electronic wallet (or mobile wallet)?
Doing this with your credit card statement balance every single month by the due date ensures you pay exactly $0 in interest.
What is paying it off in full?
Often described as "interest on interest," this type of interest calculates growth on both your original balance and the interest you've already earned.
What is compound interest?
In Canada, this federal program takes a small percentage of your paycheque to fund your financial security when you retire at age 65.
What is the CPP (Canada Pension Plan)?
This teacher coaches the junior boys soccer team.
Who is Mr. Adam?
A digital or virtual type of currency
What is cryptocurrency (or crypto)?
This is the smallest amount of money you must pay on your credit card bill each month to avoid late fees and keep your account in good standing.
What is minimum payment?
Compound interest is your best friend when you are saving or investing, but it becomes your worst enemy in this financial situation.
What is when you are in debt (or have credit card balances)?
These are expenses that stay exactly the same every single month, like your rent, car payment, or phone bill subscription.
What are fixed expenses?
This is Canada's national summer sport
What is lacrosse?
This traditional paper document tells your bank to transfer a specific amount of money from your account to the person named on it.
What is a cheque?
This represents the maximum amount of money a bank will let you spend or borrow on a single credit card.
What is credit limit?
This financial term refers to the initial, original chunk of money you deposit into an account or borrow on a loan before interest starts kicking in.
What is the principal?
These costs change from month to month, like groceries, gas, concert tickets, or clothing.
What are variable expenses?
The last musical production to be performed at ENSS two years ago was based on this Disney film.
What is The Little Mermaid?