Show Me the Money
The money a person receives from work, benefits, investments, or other sources.
Income
A plan that shows how much money you expect to earn and spend over a specific period of time.
Budget
Money borrowed from a lender that must be paid back, usually with interest.
Loan
A financial institution that accepts deposits, provides loans, and offers other money-related services.
Bank
The ability to understand and use financial knowledge to make informed decisions about money.
Financial Literacy
The total amount of money earned before taxes and other deductions are taken off.
Gross Income
The money you spend on the things you need or want, such as housing, food, transportation, and entertainment.
Expenses
A payment tool that allows you to borrow money up to a set limit and repay it later.
Credit Card
A member-owned financial institution that provides personalized banking services to its members.
Credit Union
Having the knowledge, skills, and confidence to make informed money decisions.
Financial Empowerment
The amount of money left after taxes and other deductions are taken from earnings.
Net Income
The act of using money to buy goods or services.
Spending
Individuals, businesses, or organizations that lend money or provide goods and services on credit.
Creditors
Money put into something with the expectation that it will grow in value or earn income over time.
Investment
When a person controls another person's access to money, financial information, or financial decisions in a way that limits their independence.
Financial Control
A form submitted to the government that reports income and taxes paid, which may result in a refund or amount owing.
Tax Return
Regular costs that stay the same each month, such as rent, mortgage payments, or insurance.
Fixed Expenses
A record of a person's borrowing and repayment history used by lenders to assess creditworthiness.
Credit Report
Government-recognized accounts that provide tax advantages to help people save for specific goals, such as retirement or education.
Registered Savings Plans
Having enough resources to meet current and future financial needs with confidence.
Financial Security
The cost of borrowing money or the money earned on savings and investments.
Interest
Money that is set aside for future goals, emergencies, or large purchases.
Savings
A type of high-cost borrowing that provides quick cash but must be repaid within a short period of time.
Payday Loan
An investment that guarantees your original money and pays interest for a set period of time.
Guaranteed Investment Certificate (GIC)
Money borrowed for something that is expected to increase in value or improve future earning potential, such as education or a home.
vs.
Money borrowed for purchases that lose value quickly or do not improve financial well-being.
Good Debt vs. Bad Debt