Taxes
How much is sales tax?
GST - 5%
PST-7%
What is insurance?
a practice or arrangement by which a company or government agency provides a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a premium.
how do you qualify for a credit card?
be old enough
have your own income have positive credit history
don't have a lot of debt
get co-signer
What is mortgage?
legal agreement by which a bank or other creditor lends money at interest in exchange for taking title of the debtor's property,
How old do you have to be to buy stocks?
Over 18 unless you have an adult to open an account.
What do taxes go toward?
Government services
What are 3 types of insurance?
car
house
rental/tenant
life
pet
What should you do to improve your credit score?
keep credit card balances low, pay off debt
Is it better to buy or rent a home for a student?
Renting a home is less expensive and the owners insurance will cover damage.
What is an ETF?
Exchange Traded Fund - holds assets such as stocks, commodities or bonds
When do you have to start paying taxes?
16
What is homeowners insurance?
property insurance that covers private residence
How old do you have to be to have your own credit card?
18
what is house flipping?
buying a house and selling it for more
what is the dow jones industrial average?
negative 5.97%
What will happen if you don't pay taxes?
Tax Fraud
why is insurance important?
insurance provides protection in case customers or passersby experience harm at the hands of your company, or if your company is harmed by an incident such as a fire. In addition to protecting yourself, it's also important to have business insurance so you can protect others.
What do debit cards do?
draw money directly from your checking account when you make the purchase
how old can you be to buy a house?
18
what is a trailing stock order?
sets stock price at a fixed amount below the market price with attached trailing amount
When are taxes due in 2020
April 30th
What is the fine for driving without life insurance?
$598
how many credit cards does the average Canadian have?
8
What percent is down payment for a house in B.C?
20%
What do Anna, Naomi, Navneet and Sydney have in common?
Annika