Saving
Type of payment that is variable on the number of hours worked
Wage
Money that leaves your bank account regularly and on a schedule
Fixed Expenses
Money received free for achieving high grades throughout high school
Scholarship
True or False
Debts and loan payments do not increase over time
False
Debts and loan payments increase based on the interest rates agreed upon with the entity that supplied the loans.
The average cost of a home in the GTA
Approximately $800,000
Bank account that holds money not intended for spending
Savings account
Money that leaves your bank account based on personal desire, activities, and choices.
Variable Expenses
Money that is given to students with financial need.
Bursary
True or False
Debts are erased upon your death
False
The person responsible for dealing with your will and estate after your death will use your assets to pay off your debts
The average cost of a used vehicle
Between $3000-$19,000
Amount of money saved if $5 is placed in savings each week
260$
How much are you liable for if your debit or ATM card is stolen?
No more than $50, if the loss is reported within two business days
Up to $500, if reported after two business days
Money that is given to students from an organization other than your school.
Grant
True or False
All debt is bad debt
False
Borrowing for a home or college is a useful necessity. Just make sure you don't borrow more than you can afford to pay back, and always shop around for the best rates.
The average cost of a new car
$36,000
The financial plan that allows you to track spending in a clear and concise way
Budget
The Average cost of university tuition in Ontario for one year
$6,592
True or False
Giving kids an allowance teaches the child that money is given and not earned
True
The total amount of debt incurred in America owed on mortgages, student loans, cars, credit cards, and other lines of credit
%12,580,000,000,000
12.58 TRILLION DOLLARS!!!
$40,000
Type of payment that is not variable based on the number of hours worked
Salary
True or False
Owners of a debit card can spend up to on average $300 of an overdraft which must be paid back to the bank in full with interest.
True
True or False
Most fun activities in the GTA cost money
False
Royal Ontario Museum
The ROM has just launched a new program where every 3rd Monday of the month, the Museum will be open to the public for free General Admission from 5:30pm – 8:30pm.
Art Gallery of Ontario
Free General Admission every Wednesday from 6:00pm – 9:00pm.
AGO Free After Three: For youth ages 14 to 25. All Ontario High School students can visit the Gallery for free after 3 pm Tuesday to Friday during the school year. Simply present a valid student ID at the ticket desk.
Gardiner Museum
Children and youth aged 18 and under are always free.
Children under 12 years of age must be accompanied by an adult.
Textile Museum
Children aged 5 and under are free.
Aga Khan Museum
Admission to the Museum and all exhibitions is free each Wednesday from 4pm to 8pm.
The Power Plant
Admission all year round is free!
Museum of Contemporary Art Toronto
Children and youth 18 and under are always free.
Free admission for everyone on the last Sunday of each month from 10am to 2pm.
The average debt of students when they graduated from college
$30,000
The average percentage of an individuals income that is deducted for taxes
40%