Payroll Information
1.88% (2016) of gross income deducted for insurance in case of unemployment
What is Employment insurance (EI)
The amount you must pay on a claim before the insurance kicks in
What is Deductible
Refers to a person's honesty and dependability in paying money debts
What is Character
How easily the investment can be turned into cash
What is Liquidity
Assets - Liabilities =
What is Net Worth
A deduction paid to the federal and Provincial government for taxes
What is Income tax
The contact you make with the insurance company when something has happened. It includes an accurate description of what has happened. A __________ is made so that the insurance company can honor its agreement with you.
What is Claim
An ongoing record of how well you manage debt
What is Credit Rating
A savings account/investment where the Canadian Government does not tax the interest earned on the balance
What is Tax Free Savings Account
A Landlords biggest issue
What is Noise
Deducted money that was received in advance of the pay cheque
What is Advance Earnings
Judgement of the value of an item, usually made by an expert
What is Appraisal
Any person, with established credit, that is willing to help a person to get credit, if the borrower fails to make payments, than it is up to the person to pay.
What is Co-Signer
Lending money to purchase buildings and/or property.
What is Mortgages
Some things lose values over time
What is depreciation
Fees paid for membership in a union
What is Union Dues
The person from your insurance company who determines what coverage you have and what will be paid
What is Adjuster
The ability to pay a debt
What is Capacity
Purchasing buildings or property to rent.
What is Real Estate
You need this to get your damage deposit refunded
What is keeping your place reasonably clean
An investment in which a business or government pays a set interest rate
What is Bonds
The amount you pay to the insurance company. Your premium and that of all other people who pay ___________, form a pool of money so that if you need coverage, the insurance will provide the coverage and pay those bills
What is Premium
Collects info on whether bills are paid or not
What is Credit Bureau
Saving at least 10% of your income and never spend it, but invest it.
What is the Secret of Becoming Rich
Credit cards, student loans, bank loans, and loans from other people
What is Debt