Car\House Payments
What does the term Interest rate mean?
The amount of interest due per period.
Why should you pay off your cedit card?
To help build your creditscore and so you won't have to pay instrest at a later date.
what is money?
a system of value that facilitate the exchange of goods in an economy.
What is budgeting?
A budget is a plan you write down to decide how much money you will spend a week.
what is the best thing to ask a loan for?
best thing is debt consolidation.
True Or Flase- interest gets added onto a loan every year.
False.
True Or False- 600 is the highest credit score.
False.
How long until you get paid?
By weekly.
what is a saving account?
a typeof bank account designd for saving money that you do not plan to spend money rightaway.
Whats a loan?
when money is given to another party in exchange for repayments of the loan principal amount plus interest.
what does the phrase Out The Door Price mean?
The price after all taxes or add ons have been put on.
The period of time required to pay off your credit card in Canada?
21 days.
what is the benfit of using cash?
You only spend what you have and you cant go into debt.
What is financial wellness?
Is a state of financial well-being in which you can comfortable manage bills and payments.
why would you need a loan?
For major purchases, investing, renovations, debt consolidation, and business ventures.
True or Flase- average price of a house in NL is under 300k
True!
What is credit score?
Designed to represent your credit risk, or the likeihood you wll pay your bills on time.
what does the term finance mean?
the management if money and includes activites such as investing, barrowing, lending, budgeting, saving and forecasting.
How can you save?
You can put money away into a savings account and budget your spendings.
true or false- when taking out a loan, should you take out more tan you need?
False depending.
What are the 3 types of payments when buying a car?
Cost, Finance and lease.
What is a high credit score?
Anything over 760.
do kids pay taxes in Canada?
Canadians are generally required to file a tax return if they earn an amount of mony that exceeds the basic personal amount.
what percentage of your income should you put into a savings account monthly.
you should put at least 20% of your income.
what are the five types of loans?
personal loans, auto loans, student loans, mortgage loans, payday loans.