Financial Literacy 1
Things that would be nice to have, but you can live without
What are wants?
What you think is important in life
What are values?
Another name for a budget
What is a spending plan?
Things you spend money on
What are expenses?
Using tablet or smartphone to do your banking
What is mobile banking?
A bank account that lets you write cheques, pay bills and do other personal money tasks
What is a chequing account?
A bank account that pays you interest on the money you put into it
What is a savings account?
A card that lets you pay for things electronically, directly from your personal bank account
What is a debit card?
Financial institution that holds cash, lends money and provides other money services
What is a bank?
When you do your banking on a computer
What is online banking?
When you send money to someone else over the internet
What is an e-transfer?
When income is less than expenses
What is debt?
A bank worker who can help you open a bank account or cash a cheque
What is a customer service representative?
A type of ID that is referred to as SIN
What is a social insurance number?
When your pay automatically goes into your bank account
What is direct deposit?
A fee someone pays to borrow money
What is interest?
A physical payment card that allows you to get credit from a financial institution
What is a credit card?
A record of money that has moved in or out of your bank account
What is a transaction?
A list from a bank of all the transactions you made in a month
What is an account statement?
A loan you get from a cash store or payday lender
What is a cash advance?
Money you didn't count on having to spend
A special savings account to help you save for your child's future education
What is a RESP?
A scam that uses email, phone calls or text messages to try and steal money or information from you
What is phishing?
When something is shared or felt by both sides
What is reciprocity?
Dealing with your needs first, then your wants
What is good money management?