Investing Your Money
The interest that is paid on the initial amount of money invested.
What is simple interest?
Money that you pay to the government.
What are taxes?
The amount of interest due each period, expressed as a percentage of the amount borrowed.
What is the interest rate?
The meeting where you make your first impressions on a potential employer.
What is an interview?
According to experts, you should set aside this percentage of your before-tax income as savings.
What is 10%?
The magic of compound interest.
What is saving early and leaving the money alone?
The filing deadline for your personal income tax return.
What is April 30th?
Mortgages, student loans and car loans are examples of this type of credit.
What is installment credit?
A document that sells a person to a potential employer.
What is a resume?
The meaning of the 50:30:20 rule of savings.
What is 50% of your income on needs, 30% of your income on wants and 20% of your income on savings?
What are safe investments?
The percentage of the balance of income tax owing that you have to pay if you file your tax return late.
What is 5%?
The amount of time your credit information stays on your file.
What is 7 years?
A written introduction to a potential employer that states what position you are applying for and why you would be suited for that position.
What is a cover letter?
The best way to manage your money and achieve your goals by tracking your income and expenses.
What is a budget?
A pool of money that is invested by many people and managed by professionals and holds baskets of stocks.
What is a mutual fund?
The summary of an employee's income for the year provided by the employer by the end of February each year.
What is the T4?
A type of financing frequently used to purchase real estate, including homes.
What is a mortgage?
A market where the employees are the supply and the employers produce the demand.
What is the labour market?
The government agency that is in charge of regulating the banking industry in Canada.
What is the Bank of Canada?
Borrowing stocks from your brokerage whose price you anticipate falling and selling it on the open market.
What is short selling?
The percentage of Canadians that the Canada Revenue Agency expects to file their tax returns in paper form.
What is 15%?
The 3 C's of credit.
What is character, capacity and collateral?
According to a survey by PayScale, 60% of employers found people looking for jobs were missing this.
What is critical thinking and problem-solving?
The maximum consequences of intentionally destroying the currency.
What is 5 years in prison and a $5,000 fine?