Budgeting
What is the Canada Revenue Agency’s online tool for managing your personal income tax and benefit information?
What is My Account?
What is the tax-advantaged account that allows Canadians to save for retirement, with contributions tax-deductible?
What is a Registered Retirement Savings Plan (RRSP)?
What is the range of credit scores in Canada?
What is 300 to 900?
What is the recommended amount of an emergency fund, expressed as months of expenses?
What is 3-6 months?
What is the Central Bank of Canada?
What is the Bank of Canada?
What government program provides financial assistance to eligible families to help with the cost of raising children under 18?
What is the Canada Child Benefit (CCB)?
What is the account that allows Canadians to earn tax-free investment income?
What is a Tax-Free Savings Account (TFSA)?
What agency provides credit reports and scores to Canadian consumers? (Name one of two)
What is Equifax or TransUnion?
What is the term for planning for your financial needs after retirement?
What is retirement planning?
What is the term for the fee charged by a lender to a borrower for the use of borrowed money?
What is interest?
What is the recommended percentage of your income to save for retirement, according to many Canadian financial advisors?
What is 10-15%?
What is the maximum annual contribution limit for a TFSA in 2024?
What is $6,500?
What percentage of your credit limit should you ideally not exceed to maintain a good credit score?
What is 30%?
What type of insurance provides a payout to beneficiaries upon the policyholder’s death?
What is life insurance?
What is the name of the insurance that covers loss of income due to job loss through no fault of your own?
What is Employment Insurance (EI)?
What is the name of the budget rule that suggests dividing your income into 50% needs, 30% wants, and 20% savings and debt repayment?
What is the 50/30/20 rule?
What is the Canadian equivalent of a 401(k) plan, typically offered by employers to help employees save for retirement?
What is a Registered Pension Plan (RPP)?
What is the term for a loan where the borrower’s home is used as collateral?
What is a mortgage?
What government program provides a monthly taxable benefit to eligible retirees starting at age 65?
What is the Old Age Security (OAS)?
What government-provided program helps Canadian students with their education costs by providing grants and loans?
What is the Canada Student Loans Program (CSLP)?
Which free online tool provided by the Financial Consumer Agency of Canada can help you create a detailed budget?
What is the Budget Planner?
What investment strategy involves spreading investments across various asset classes to reduce risk?
What is diversification?
What government agency offers a free service to help Canadians manage their debt and improve their financial situations?
What is the Office of the Superintendent of Bankruptcy Canada (OSB)?
What is the supplement provided to low-income seniors receiving OAS?
What is the Guaranteed Income Supplement (GIS)?
What is the term for the growth of your money due to interest being earned on both the initial principal and the accumulated interest?
What is compound interest?