Info on a person's credit rating helps lenders in making decisions to help them see if they should lend you money

Base rate set by financial institutions to determine the interest rate on mortgages and loans

Can be payed at any time

Have to go the same 5 year payment

The interest rates change meaning that your mortgage will get higher or lower

Even if the interest rates change your still going to be paying the same 5 year payment

A loan for properties finance

Someone who helps you find the best mortgage with the lowest interest

Allows you to pay for it but over time

Shows the money you have on your credit card, how much you have borrow, owe, spent

The amount of money you can spend on the credit card ( changes depending on your credit card)

A score given that shows if you paying your debt ( high means you paying your debt in time, middle means your a late payer, and a bad score means you are a default payer)

The annual payment that you have to make for certain credit cards you have

revolving loans similar to bank accounts that can go into a negative balance

You borrow money for personal needs not for companies or businesses

Someone who pays their debt late but still pays

Someone who never or is unwilling to pay their debt

Where you get interest and you don't reinvest

You get interest and reinvest

You put your money in an account and leave it their for x years

Do you do the investment or pay someone to manage the investment

account with monthly fees that allow you to get free transactions

no monthly fee and you get small amount of interest

Grows in value over time

Losses value over time

The bank are legally allowed to take over your property or things that you own

How much money you have to pay for mortgages/ loans or the money that you own from interest

Good: saving money. Bad: people with debt

Good: borrowing money. Bad: saving money

Someone who agrees to pay for your debt if you can't or don't

Professional management, lots of different options, convenience, liquidity, diversification

Saves you time, stress, and makes you money

variety of different investments that suit individuals

You don't have to be rich to start investing and you can start by little by little

Sell and buy with relative ease

Different investments that'll suit any individual that they can invest in and grow their assets

RRPS. RESP. TFSA.

registered retirement savings plan that's tax sheltered so you don't pay for tax and grow your assets ***cant take out the money until you retire

Registered education savings plan for saving money for college and university without paying tax ***rhe government gives annual money each year

Tax-free savings account

1. Your financial goal 2. Risk profile 3. Younger mean more time for investment 4. Older mean you are safer 5. Assets Allocation (what type of investment) RULE OF 100: 30 mean 70%, 40 means 60% 6. Choose your individual investment 7. Review your risk profile, assets allocation, and investment every few years

The rise in price over time caused by interest rates

(1/5%) Guaranteed investments certificate where the government or company borrows money and says that they'll pay you back after x years with interest ***your money is locked in until that x years

(1/5%) High interest ravings account where it's the same with GIC but your moneybisnt locked in so you can spend it

(6%) when you lend companies or governments money and they promise to pay you back in x years and pay you with interest every year

(5/7%) you own a house and live in it without paying for rent and could sent out your basement

(low interest in better than high interest) Real estate income trust where you buy and rent out properties

(7, 8%) shares of a company listed on a stock market for people to buy

Where stocks and bonds are grouped in a single investment

Exchange traded fund that lets you buy a large pool of individuals stock and bonds

Mutual fund that keeps all stock in a particular market

Raw materials like gold, gas, oil

Digital alternative form of currency that's not regulated by any central bank

Where you give a chunk of your money and get a guaranteed payment every year until you die

Where the stocks are traded

Mix of stocks

Mix of bonds

Invest in GIC

Mix of stocks and bonds

Any ground profile material

management expense ratio

App/ Au that invest your money automaticly based on your goals, age, and risk tolerance for free. (0.7% MER)

one ETF that invests in 4 different funds (bonds, stocks, us stocks, int stocks)