Global Currencies
This is the total number of different currencies currently recognized in the world.
What is 180?
Financial institutions, business sections of newspapers, and books and magazines on personal finance are all examples of this.
What is reliable sources of financial information?
This term describes the feeling that you always need to have the latest trends, often as a result of strategic marketing campaigns.
What is consumerism?
This is the rate at which the prices of goods and services increase over time, meaning your money doesn't buy as much as it used to.
What is inflation?
This term refers to the original amount of money borrowed before any interest is added to the debt.
What is the principal?
Ranking just above the U.S. Dollar in value, this currency's single unit is worth $1.34 Canadian.
What is the Swiss Franc?
This term refers to "fake news" found on social media where everyone can easily share opinions that may not be financially accurate.
What is misinformation?
In a budget, things like water, medicine, and food are classified as these, while items like video games are "wants."
What are needs?
This global health event in early 2020 caused Canadian unemployment to jump by 5.2% in a single month.
What is the COVID-19 pandemic?
When deciding whether to grant a loan, a lender like a bank will investigate a person’s assets, their current debt, and this source of money.
What is income?
A country's currency is generally worth less if the government owes a large amount of this.
What is debt?
This financial professional has completed a degree, specific coursework, and passed a rigorous exam, making them a reliable source of advice
What is a Certified Financial Planner (CFP)?
Marketers use this specific strategy to make you feel like you have a limited time to buy a product and must respond quickly.
What is a "call to action"?
This factor can affect financial goals when a person gets older and decides they would rather have a nice house than a luxury car.
What is a change in priorities?
This specific loan is provided for the purpose of buying a house and typically has an interest rate between 2% and 5%
What is a mortgage?
If you took $35 Canadian to Australia at an exchange rate of 1.10, you would receive this much Australian currency
What is $38.50?
In Canada, banks are monitored by this federal agency to ensure they act in the best interest of consumers.
What is the Financial Consumer Agency of Canada (FCAC)?
Strategic forms of advertising use this personal data, including your search history and online profile, to appeal to you directly.
What is an online identity (or targeted advertising)?
High interest rates in a country can actually make its currency more valuable by attracting these people or businesses from other countries.
What are foreign investors?
This type of loan is considered riskier because the interest rate changes whenever a bank's base rate goes up or down.
What is a variable-rate loan?
If foreign investors see a country has an unstable government or wars, they will avoid investing, which is known as this type of instability
What is political instability?
Often seen in flashy online ads, these illegal business models pay members for recruiting new members rather than selling actual products.
What are pyramid schemes?
This specific part of a budget is set aside to cover unexpected costs, such as medical issues or car repairs.
What is an emergency fund?
Reaching financial goals becomes faster for women as this specific "gap" continues to close over time
What is the gender wage gap?
In 2021, the prime rate reached this specific percentage, which was its lowest level since 2008.
What is 2.45%?