Banking
What is a Chequing Account
A bank account that allows easy access to funds for everyday transactions.
What is a Stock?
A small unit of ownership of a company; when the company makes or loses money, you also can make or lose money.
What does "income" mean?
Money you earn from working or from things you own that make money, like a business.
What is a Savings account?
A bank account that earns interest over time and is typically used for storing money that you’re not going to use right away.
What is a Portfolio?
The collection of all the different investments (like stocks and bonds) that someone owns.
What does "expense" mean?
Money you spend on things you need or want.
What is Direct deposit?
The electronic transfer of a payment, often a paycheck, directly from the payer’s account to the recipient’s account.
What is the Stock Market?
The stock market is a trading network that connects investors looking to buy and sell stocks
What is Debt?
Money you owe because you borrowed it and need to pay it back.
What is a Loan?
Money that you borrow and have to pay back later, usually with extra money on top called interest.
What is interest?
Extra money you pay when you borrow money, or money you earn from saving it, usually shown as a percentage.
What is a Credit Card?
A payment type that creates a loan, meaning you have to pay back the purchase amount plus interest at a later time.
What does "overdraft" mean?
Occurs when money is withdrawn from a bank account and there are not sufficient funds to cover it.
What is a Dividend?
Distribution of profits by a company to individuals who own that company’s stock.
What is a Debit Card?
A payment type that uses money from your chequing account.