Income Management
Backed and guaranteed by the Government, this allows you to exchange it for goods and services.
Money/Legal Tender
This organization isn't really a bank - but is responsible for printing money and regulating Interest rates in Canada.
The Bank of Canada
This number is used to determine someone's reliability at the paying of debts, and can contribute to whether or not they qualify for a mortgage or other loan.
Credit Score.
The initial amount of money you put in a savings account - it shares its name with another answer on the board.
Principal
This is the likelihood that an investment will lose you money, rather than gain you money.
Risk
The natural process of prices for goods and services increasing overtime.
Inflation.
An extension of a bank's central office, these are the individual locations one visits to do their regular banking.
Branch
These popular bits of plastic are great for building a credit score, and for providing sweet rewards - but their high interest rates can make them dangerous indeed!
Credit Cards
This type of interest is flatly applied against the Principal, never increasing overtime.
Simple Interest
This is the amount of extra money you are likely to receive because you invested.
Expected Return
The income someone makes before taxes and deductions.
Gross Income
This type of bank account is primarily used for making purchases, and usually does not provide a return in the form of interest.
A Chequing Account
This type of loan works like a credit card, but usually has a much lower interest-rate.
Line-of-credit.
This type of interest increases overtime, by applying the interest periodically and then calculating interest in the future against the new amount of Principal + Interest
Compound Interest.
One of the three states of matter, this term also describes the ease of turning an investment back into spendable cash.
Liquid/Liquidity
The Income someone makes AFTER taxes and deductions.
Disposable Income
This device can be used to withdraw money from your bank account, but you'll be charged a fee if it is operated by a different bank than the one your account is with.
An ATM (Automated Teller Machine.)
Not to be confused with the boss of a school, this is the initial amount taken out as a loan, to which interest is later applied.
Principal
In the equation P x R x T, this is what the R represents
Rate of Interest
Highly liquid, these are purchasable certificates that say you own part of a publicly traded company.
Stocks/Shares/Equities
The Income left over for optional purchases after taxes, deductions, and necessary expenses.
Discretionary Income
This is the primary means through which Banks make money as a business.
Investing and Loan repayment interest.
This three letter acronym refers to the yearly increase in debt, and is measured against the principal
APR
Not to be confused with a credit card, this bit of plastic allows you to use money in your bank account to make purchases on the go.
A Debit Card
This term could be used to describe the changing demographics of Toronto, but in finance it refers to a healthy portfolio strategy for making smarter investments.
Diversification