Dollars and Sense (Complete publication with bookmarks)

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Collateral: Something you agree to give the creditor if you do not pay back the loan. Collection agency: A business that collects debts and may even have the authority to start legal proceedings collect unpaid debts. Compound interest: Interest on the original principal as well as the interest already accrued. Consolidation loan: A loan given by a financial institution to help pay all other debts at a lower interest rate. Credit bureau: An organization that keeps your credit records. Credit check: An inquiry regarding an individual’s credit by a creditor. Credit history/report: A record of the money you have borrowed and how well you pay it back. Credit rating: A number given to credit card or a loan based on the owner’s history of repayment of debt. Credit Union: A member-owned and operated not-for-profit financial organization. Credit Union Central of BC: A central banker for BC’s credit unions that insures member deposits and reimburses them if a credit union fails. Debit card: An electronic card issued by a credit union or a bank to allow a client access to their account to make deposits or withdrawals. Default: When you don’t pay back your loan as agreed. Depreciating asset: An asset that decreases in value as it ages. Direct deposit: Direct deposit lets your employer put your pay directly into your bank account. Employment Insurance (EI): It is temporary financial help given by the government to you when you lose your job. Endorse: To sign on the back of a cheque before cashing, depositing or giving it to someone else. Equifax: One of the two organizations in Canada that keeps your credit records. Goods and Services Tax (GST): Currently % tax paid when a consumer purchases certain goods and services. 86
Gross pay: Your pay before deductions. GST credit: A tax-free quarterly payment to low-income earning individuals and families. Guaranteed Investment Certificates: A deposit that has a fixed term and a fixed interest rate. Human Resources and Skills Development Canada (HRSDC): A federal government department helps Canadians with labour market information and issues. Income tax: Taxes collected by the government to pay for services like health care and education. Income tax refund: Money that government owes to you that you get back after you file income tax. Income Tax return: Forms that you fill out to file your income tax. Interest rate: The monthly rate paid to a customer or received by a creditor on saved or borrowed money. Loan: Money borrowed from a creditor which will be repaid with interest a predetermined date. Long-term goals: Goals that take a year or more to accomplish Mutual Funds: A collection of stocks and bonds where you pool your money with other investors National Student Loans Service Centre: It manages Canada Student Loans. Needs: Things that are a must for survival, such as, food, medicine, etc. Net pay: Your pay after deductions. Non-Sufficient Funds (NSF)/bounced cheque: A cheque written on an account that doesn’t have enough money therefore cannot be cashed. Notice of Assessment: An annual statement sent by the CRA with the amount of income earned, taxes paid, taxes owed, tax refund and tax credit as well as amount you can contribute towards yourRRSP. 87
Page 1:
Dollar$ and ense A guide for your m
Page 4 and 5:
6 Banking..........................
Page 6 and 7:
1) Values, Money and the Big Pictur
Page 8 and 9:
1 a) Values Worksheet Think about t
Page 10 and 11:
2 a) Financial Goal Worksheet Goal
Page 12:
10 3) How Much Do I Really Make?
Page 15 and 16:
3 b) Hidden Costs of a Job You work
Page 17 and 18:
• If you use it for an emergency,
Page 19 and 20:
4 b) Staying Organized Budgeting ca
Page 21 and 22:
Money going out… (cont’d) Cloth
Page 23 and 24:
What do I need? • All your tax in
Page 25 and 26:
• CRA tax clinics • Non-profit
Page 27 and 28:
Checklist for opening account • O
Page 29 and 30:
Benefits of Record keeping • You
Page 31 and 32:
6 d) Protect Your Money Debit Card
Page 33 and 34:
• Ask questions. • Think first;
Page 35 and 36:
Scotiabank (The Bank of Nova Scotia
Page 37 and 38: 7 b) Making your Money Grow Faster!
Page 39 and 40: • There are no fees to purchase.
Page 41 and 42: 8) Credit Buying with credit lets y
Page 43 and 44: 8 b) Applying for a Credit Card Sho
Page 45 and 46: Once you get your card… • Read
Page 47 and 48: Why do I need to check my history?
Page 49 and 50: 8 d) Credit Card Statement Each mon
Page 51 and 52: 8 e) How Much Can I Afford to Borro
Page 53 and 54: The true cost of paying the minimum
Page 55 and 56: • A free phone is not equal to go
Page 57 and 58: • They will let you know how much
Page 59 and 60: A voice response unit is available
Page 61 and 62: 9 c) Buying a Car 1. Know your goal
Page 63 and 64: 10) The Art of Complaining Effectiv
Page 65 and 66: 10 b) Complaint Letters • Type yo
Page 67 and 68: 11) Financial Trouble For the first
Page 69 and 70: 11 a) The Power of Advertising Ads
Page 71 and 72: Cost of item $1000 Purchase date Fi
Page 73 and 74: • Make abusive calls in which the
Page 75 and 76: 3. Bankruptcy This should be your l
Page 77 and 78: 12 a) Save on Utilities • Reduce
Page 79 and 80: For example: You buy two bags of co
Page 81 and 82: Food warehouses • These are ‘no
Page 83 and 84: 12 d )Save on Entertainment Eating
Page 85 and 86: 12 e) Saving on Housing • Get a r
Page 87: Glossary Account passbook: A book w
Page 91 and 92: Resources Adbusters www.adbusters.o
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Dollars and Sense (Complete publication with bookmarks)

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