Methods of Payment
A payment method that does not require a bank account.
What is cash?
The standard rate of tax when making a purchase in Ontario.
What is 13%?
The amount of money paid on top of borrowed money?
What is interest?
The total amount of money you have.
What are savings?
A payment method that is similar to an e-transfer but may take longer.
What is a cheque?
This tax helps to pay for education and health services in Ontario.
What is provincial tax?
The money that people owe to other people/companies/banks.
What is debt?
The money that you have coming in compared to your expenses for a set time.
What is a budget?
A payment method that may require the payee to pay interest.
What is a credit card?
The total after adding tax is $113.00.
What is $100.00?
A thing that is borrowed, usually a sum of money that is expected to be paid back with interest.
What is a loan?
The amount of money that you have to spend every month.
What are monthly expenses?
A payment method that requires a bank account and internet access.
What is an e-transfer?
It doubles as a public service and as a way to get credit for income taxes.
What is a donation?
The total after adding 25% interest is $250.00.
What is $200.00?
If you make $10.00 a month, you need to save for this many months to buy a $50.00 game.
What is 5 months?
The standard minimum amount of days that a bank gives you to pay back a credit card balance with no fees.
What is 21 days?
This determines what percentage of income you must pay back in taxes.
What is a tax bracket?
An easy-to-get loan, but with extremely high interest rates and fine.
What is a payday loan?
You must always think about this when planning a budget.
What are unexpected expenses?