Financial Terminology

The management of money for an individual or family

A fund that a person regularly contributes to during their working life that they will use when they retire.

This is a financial account in Canada for parents saving for a child’s education. 

Assets that can enhance one's ability to obtain money are called.

These are things that a person owns that are of value.

This is the act or process of investing money for profit or material result.

This is a sum of money that is borrowed and expected to be paid back with INTEREST

A retirement savings account in Canada with various tax benefits.

This is money paid regularly, at a specific rate, for the use of money lent.

The value of a person's assets minus the value of their outstanding debt.

Collecting interest on the interest that an amount has collected; interest on interest

This is a savings account in Canada that build compound interest and allows tax benefits.

To pay for something by directly removing money from a bank account, typically as payment for service or goods.

A long-term loan agreement with the bank in exchange for your name on a house or property.

A written agreement to exchange land, property, or services over an extended period of time for a regular payment

To spend money without it coming out of your account immediately. Buy now, pay more later.

Money that is owed or overdue

This is a general term that refers to the management of money

This is a regular payment to a landlord from a tenant for the use of property or land