Unit one #1
What is the most important political law you can do when 18 ?
Get the right to finally vote
What is financial literacy ?
The skill to make smart and effective decisions with all the financial resources
How often should you check up on your bank account ?
It is required to cheque it every 2 weeks
What is a mutual fund ?
A mutual fund is a professionally managed investment fund that pools money from many investors to purchase securities
is it legal to buy a house under your name for a recent 18yld ?
Yes !
What is a pay stub ?
What are the 6 strategies for better management?
Management, notes, save, invest.....
What are stock exchanges
A stock exchange facilitates stock brokers to trade company stocks and other securities.
Is it better to get your credit card as soon as you turn 18 or wait longer ?
Yes as long as it's a used car to save more money
What investment is the most beneficial ?
Self investment is the most important
Is it smart for a freshly graduate to buy a car ?
Yes if its cheap !
What does (CRA) mean ?
Canada Revenue Agency
How much money should an 18 year old have saved up on average ?
About $1,225 !
What are the 4 pillars of money management ?
Savings, Debt, Liabilities and expenses
Should a 18 years old have a visa card ?
Yes to build a better score
What are taxes ?
A tax is a compulsory financial charge or some other type of levy imposed on a taxpayer by a governmental organization in order to fund government spending and various public expenditures.
s decision making important for young adults ?
Yes! it will lead you making better decisions in the future
How much is required to save before taxes (%) ?
For young adults about 10%
Is it important to build a credit score at 18 ?
Yes! so you can build a better credit score while your still young.
What is (TSFA) ?
Tax-free savings account