Housing
This loan is used specifically for paying off a house
What is a Mortgage?
Rent is considered an example of this
What is an expense?
This type of bank account allows you to store money and earn extra money over time
What is a Savings Account?
This cost is the main cost of a post-secondary program
What is Tuition?
This tax, from both the provincial and federal governments, is an extra cost applied onto purchases
What is a sales tax?
The owner of a building you rent out
What is a Landlord?
Having your expenses be higher than your income is called this
What is debt?
This type of investment involves buying or selling shares of publicly traded companies
What are Stocks?
This type of housing is close to or on campus and is provided by the post-secondary institution
What is residence?
This tax takes money from your salary
What is an income tax?
This type of residential property requires both an outright purchase and a monthly maintenance fee
What is a Condo?
An expense that is not essential for living is called this
What is a discretionary expense?
This type of savings plan delays when you pay income taxes and helps you save for retirement
What is a Registered Retirement Savings Plan(RRSP)?
This government contributed savings plan helps families save up for educational expenses
What is a Registered Education Savings Plan(RESP)?
As part of living in a city, you pay this tax on your property
What is a property tax?
This tax is applied during a home sale, and is typically paid by the home buyer
What is a land transfer tax?
Not paying off all of your credit card bill in a month can result in you being charged these extra charges
What is interest?
While having a limit of how much you can add, withdrawing money from this bank account does not result in taxes
What is a Tax Free Savings Account(TFSA)?
This post-secondary institution in Canada focuses on the theory aspect of a subject, and can force you to take classes in other subjects
What is a University?
This tax is part of the government's plan to tackle Climate Change
What is the carbon tax?
While not exactly matching the interest rate of the Bank of Canada, this type of mortgage has its interest increases and decreases tied to the increases and decreases of the Bank of Canada's
What is a Variable Mortgage?
This type of fund is the equivalent of 3-8 months of living expenses
What is an emergency fund?
This pool of professionally managed money is a fund pitched in by multiple investors
What are Mutual Funds?
These students are charged extra compared to other students that live in the country of the post-secondary institution
Who are International Students?
A TFSA, RRSP and RESP are examples of this
What is a tax shelter?