resources
There are all sorts of books out there that teach money management and the basics of investing. Remember to Make it Count and check out the library before purchasing any of these titles!
books
A Chair for My Mother
Vera B. Williams, 978068804074
A Dollar for Penny, A Math Reader
Julie Glass, 9780679889731
A Smart Girl’s Guide to Money
Nancy Holyoke, 1593691033
Alexander, Who Used to be Rich Last Sunday
Judith Viorst, 9780689711992
Allowances Dollars and $ense
Paul W. Lermitte, 0075609290
Arthur’s Funny Money
Lillian Hoban, 9780064440486
Bunny Money
Rosemary Wells, 9780140567502
Clark Smart Parents, Clark Smart Kids
Clark Howard, 0786887796
If You Made a Million
David M. Schwartz, 9780688136345
Less Than Zero
Stuart J. Murphy, 978006001261
Money Doesn’t Grow on Trees
Neale S. Godfrey, 0671798057
Money, Money, Money
Eve Drobot, 1897066112
Money Still Doesn’t Grow on Trees
Neale S. Godfrey, 1579548512
My Rows and Piles of Coins
Tololwa M. Mollel, 9780395751862
Pigs will be Pigs
Amy Axelrod, 9780689812194
Raising Financially Fit Kids
Joline Godfrey, 1580085369
Rich by Thirty—A young adult’s guide to financial success
Lesley Scorgie, 9781552637944
Sam and the Lucky Money
Karen Chinn, 9781880000533
The Berenstain Bears’ Dollar$
and $en$e
Stan and Jan Berenstain, 0375811249
The Berenstain Bears’ Trouble
with Money
Stan and Jan Berenstain, 0394859170
The Kids Guide to Money Cent$
Keltie Thomas, 9781553373919
The Money Tree
Sarah Stewart, 0374452954
The Prosperity Factor for Kids
Kelley Keehn, 1897178352
websites
The Financial Consumer Agency of Canada
www.fcac-acfc.gc.ca
Interactive Calculators:
Credit Cards and You
Mortgage Qualifier Calculator
Cost of Banking Guide
Mortgage Calculator
CanLearn
www.canlearn.ca
Interactive Calculators:
Education Cost Calculator
Loan Repayment Calculator
Industry Canada
www.ic.gc.ca
Automobile Calculator
a glossary of terms
Account Statement
Record of transactions in an account at a financial institution or investment firm.
Allowance
A small sum of money periodically given to a child by his/her parents.
Automated Teller Machine (ATM)
A machine that allows you to complete banking transactions by inserting an electronic card.
Bond
Investment in which the government or a company promises to repay money borrowed from investors at a specified time and to pay interest at a specified rate.
Budget
A plan (monthly or yearly) for spending and saving based on your income and expenses.
Canada Education Savings Grant
A grant from the Government of Canada to help you start saving for your child’s post-secondary education.
Commission
A fee that you pay to a broker or agent for the service of arranging the purchase or sale of an investment. Commissions vary between brokers.
Compound Interest
Interest that is paid on the original amount deposited and on any interest that has been earned in previous periods (e.g.: In Year 1, the financial institution pays you $5 interest on your $100 deposit. In Year 2, it pays you interest on $105).
Credit
The ability to borrow money or charge purchases to an account before paying for an item or service.
Credit Rating
A rating that summarizes your financial reputation and credit history. It is used by financial institutions when considering loan applications to decide whether to lend you money and how much you may borrow.
Debit Card
A card that lets you pay for purchases by transferring money electronically from your account to the retailer.
Debt
Money that you have borrowed. The loan must be repaid with interest by a set date.
Deposit
Money that is held in an account at a bank, credit union or trust company.
Discretionary Income
The amount of income available for spending after the essentials (such as food, clothing, and shelter) have been taken care of.
Diversification
Investing in a variety of different securities to reduce the risk inherent in investing. Diversification may be among types of securities, companies, industries or geographic locations.
Dollar Cost Averaging
Investing a set amount at set intervals over a period of time. The investor buys more shares when prices are low and fewer shares when prices are high, with the hope of reducing average share cost.
Expenses
Outflow of money to another person or group to pay for an item or service.
Fees
The amount you pay to a financial adviser for recommending an investment.
Financial Adviser
An individual who offers advice about buying or selling investments.
Financial Life Skills
Skills that you need to manage your money with knowledge and confidence throughout your life.
Financial Literacy
The ability to read about and understand basic financial concepts.
Financial Plan
A written plan that identifies your financial goals and recommends specific actions to take to achieve them. The financial plan should be reviewed annually to be sure it reflects the individual’s changing life and needs.
Guaranteed Investment Certificate (GIC)
An investment in which you deposit money for a fixed period of time and receive a specified rate of interest.
Income
The amount received from all sources, including wages, salaries, profits, interest payments, rent and other forms of earnings.
Interest
A fee that is paid on borrowed capital.
Investing
To commit money for financial gain, with the expectation that it will provide income, increase in value or both.
Investment Scam
Criminal fraud or “con” game in which there is an attempt to swindle money by gaining a person’s confidence.
Loan
A transaction whereby money is borrowed for a set period of time at an agreed-upon rate of interest.
Mutual Fund
A pool of money that’s invested for a group of investors by a professional money manager.
Need
A need is a necessity, something you must have, something that is essential i.e. food.
Payroll Deductions
An amount of money automatically deducted from your paycheque for taxes, employment insurance, pension contributions, etc.
Profit
Financial gain for a person or company. It is the money that remains after you subtract your costs from the money you made.
Principal
Money originally invested or lent to earn interest or other income.
Prospectus
A legal document that sets out the full, true and plain facts you need to know about an investment. It contains information about the company or mutual fund selling the security, its management, products or services, plans, and business risks.
Registered Education Savings Plan (RESP)
A type of savings plan registered with the government that allows people to put money aside for a child’s post-secondary education expenses.
Return
The profit you make on an investment from interest, dividends or the increased value of the investment.
Risk
Amount of uncertainty about the expected return from an investment. This includes the possibility that the investment may lose money or become worthless.
Risk Tolerance
How comfortable you are to risk losing your money on an investment.
Registered Retirement Savings Plan (RRSP)
A type of savings plan registered with the government that allows you to reduce the income tax you pay on money you save within the plan for retirement.
Savings
Money put aside in an account to accumulate as a reserve for future needs.
Securities Regulator
An independent government agency that regulates trading in securities (stocks and bonds) and protects investors in their home province.
Simple Interest
Interest that is paid only on the amount of the initial deposit and not on any interest the deposit earns over time. (e.g.: In Year 1, the bank pays you $5 interest on your $100 deposit. In Year 2, it again pays you interest only on the original $100 deposit.)
Stock
Ownership in part of a company.
Tax Free Savings Account (TFSA)
An account that provides tax benefits for savings accounts in Canada. You will be able to withdraw money anytime from the account tax-free.
Want
Something you desire but do not need.
