Investment Products
When you leave your money in a bank, credit union, or trust company for a specified period of time.
Guaranteed Investment Certificate (GIC
This product is offered to customers to allow them to store and protect valuables.
Safety deposit boxes
The three Cs of credit
Character, capacilty, capital
A tool for organizing your finances.
budget
The process of projecting, organizing, monitoring, and controlling how your income.
budgeting
Shares owned in a company, for which dividends are paid based on shareholder vote.
Common shares/stock
This product offered by a bank reduces the risk associated with travelling with large sums of cash.
Traveller's cheque
An agreement in which a borrower receives something of value in exchange for a promise to repay the lender (creditor) at a later date.
Credit
Canadian owned banks
Schedule 1 Banks
Rent is an example of what type of expense?
fixed
A group of stock which is diversified to minimise risk.
Mutual funds
This service facilitates the deposit of your wages or salaries directly into your bank account.
Direct deposit
True or false; with a line of credit you only pay interest on the amount you owe, not on the total amount of credit line.
true
This banking feature facilitates business banking after hours through a special deposit bag and secure locked chute that business account holders can access to make cash deposits once their stores are closed.
night depositories
The income you have left to spend after you have taken care of all of your financial commitments such as rent, bills, loan payments, food, and other necessities.
Discretionary income
Short term instruments issued by the government to raise money.
Treasury bills (T-Bills)
This feature facilitates the withdrawal of more funds than what is available in your bank account.
Overdraft protection
Credit transactions between a retailer and a consumer.
Charge accounts
The return on your investment otherwise known as interest rate.
Yield
Your income after all mandatory deductions.
Net income
This type of investment refes to items that you collect and allow to appreciate in value.
collectibles
This is a guaranteed cheque which is suitable for business transactions in foreign countries.
Money order
This advantage of credit allows consumers to get what they want when they want it, and to spread out the payments over time.
Immediate ownership
The speed at which you can convert your assets into cash.
Liquidity
The mandatory deductions on your paystub.
Income tax, CPP and EI