Being aware of how you make money and spend money, be able to pay for living expenses, be aware of debts, prepare for emergencies and be able to spend money on things you want to.
100
When are your taxes due each year?
End of April
100
Name four types of accounts.
Chequing
Savings
RRSP
TFSA
100
Name three way sot be super market savvy.
Make a list and stick to it
Pay attention to sales and coupons
Eat before you shop
100
When was the Toonie invented?
A) 1908
B) 1956
C) 1996
D) What's a Toonie?
C- We used to have two dollar bills
200
How many month's pay should you have saved in an emergency fund?
Rule of thumb: One month
200
True or False: you always receive money back after filing taxes.
False
200
Can you explain what overdraft means?
When you withdrawal money that you don't actually have. The bank "loans" you the money but you have to return it and usually there is a fee applied.
200
True or False: Eating out is always more expensive than buying your own groceries.
False: That's why you need to make a budget because who knows? You could be buying gold dusted corn dogs for all we know.
200
What information goes on a cheque?
Date, The amount (written and number), the person writing to, signature.
300
Is eating out a Need or a Want?
Want
300
What is the name of the form received from employer to use for filing taxes.
T4
300
The process of collecting value on your existing savings or the collecting of value on money that you have borrowed is called what? Hint: One word
Interest
300
True or False: it is cheaper to buy a bus pass than pay for each individual trip.
True
300
What's the difference between a bursary and a loan?
Loan- needs to be paid back.
Bursary- yours as a gift. No need to pay back.
400
If you eat Mad Mango at $7.00 a meal, two times a week, for a year... how much would you be spending on Laksa in that year?
$728
400
How can you file your taxes?
Online
Mail it in
Third party Example H and R Block
400
What are ways to pay bills?
Online banking
At the bank teller
At the bank machine
Mailing a cheque
Credit Card
400
Name three ways to save money on utilities.
Turn thermostat down when not home or sleeping
Shorter showers, showers over baths.
Turn off lights when not in use
Close blinds to keep heat out or open to let heat in.
Turn off tap while brushing teeth or washing dishes.
400
What does GST stand for?
Goods and Services Tax
500
Name three items that could be included in the category of Living Expenses when making a budget.
Rent
Bills/utilities
Food
Cell phone bill
Medications
Clothing
500
What types of information does a notice of assessment tell you?
income received, refund received, taxes paid etc.
500
What bank are you with? :)
Yay
500
Name your own money saving idea or something that you already do!
Yaaaaaaaay
500
What's the suggested amount of your income that should go towards rent?
A) none
B) All of it
C) 15%
D) 1/3
E) Half