Amortization
Amortization is an accounting term used for two separate processes: Amortization of Loan and Amortization of Asset. Amortization of Loan
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We’re on a mission to help as many people as possible with their finances, and the first step is giving you an understanding of the financial terms you need to know and how they can apply to you.
Amortization is an accounting term used for two separate processes: Amortization of Loan and Amortization of Asset. Amortization of Loan
An assumable mortgage is a type of mortgage in which allows an individual can sell his/her property to a new
It’s really just a fancy term that means communication that isn’t happening instantly between the people communicating. For example, two
A balanced portfolio is one that is not putting all the eggs in one basket to maximize profits and minimize
Bankruptcy is a legal process, governed by the Bankruptcy & Insolvency Act, applicable to businesses and individuals who have overwhelming
Business models are a holistic framework for understanding, designing and testing business assumptions in the market place. Organizations use the
A capital gain is the profit resulting from a sale or exchange of a capital asset, wherein the capital asset
Is a reward incentive program operated by credit card and debit card companies in which a percentage of the amount spent by the card holder is paid back to the card holder.
Is the type of mortgage which doesn’t provide the flexibility of making prepayments without incurring a penalty.
While remote work is becoming more and more popular, not everyone wants to work from their home, and a café
A Collateral Charge mortgage is a re-advanceable mortgage meaning that your bank or lender can lend more money when the
A combination mortgage is comprised of two separate mortgages applied on the same property, from the same lender for the
A conventional mortgage is a type of mortgage wherein the loan for no more than 80% of the purchase price
Cost of living is the amount of money required to sustain a certain standard of living at place by affording
A Credit Loss is a debt that a company is unlikely to recover. When a company extends credit to a
A credit report is a record statement that has information about an individual’s credit history derived from numerous sources, including
A credit score is a three-digit number evaluation that represents the creditworthiness of an individual. This score is typically calculated
Debt consolidation is when a person obtains a larger loan to pay off a number of smaller debts. By doing
Debt Settlement is when both the debtor and creditor agree upon a reduced amount owed and payments are made on
Today, more and more people are turning to online or remote work, either because want to, or have to. The
A team refers to a group of people that work together. In business, this could be a marketing, development, or
The dividend is the token reward paid to the shareholders for their investment in the company’s equity. Depending on the
Escrow is a written agreement held with a third party to hold something of value and then delivered once all
ETF or Exchange-Traded Fund is trading in the exchange indexes like stock trading. Like buying or selling a stock in
A fixed interest rate means that on a loan or mortgage the interest rate stays the same throughout the term
Fixed-rate mortgage is the type of mortgage loan in which the interest rate remains the same or fixed over the
Garnishment is when there is a court order directing a percentage of money to be taken directly off of a
An initial public offering is for a company to go public for raising equity capital Any existing or new company
Money deposited and borrowed from banks with specific interest rates determines economies of countries. Borrowing and depositing cash at a
Is a bank account exactly the same as a regular account. The only difference is that the joint account is shared by two or more individuals with the same account privileges.
A line of credit is a borrowing option of arrangement offered by banks, financial institutions and other licensed consumer lenders
A Medical Power of Attorney is a legal document in which permission is given to someone you trust to make
Mergers are corporate strategies of combining companies to one for enhancing their operational and financial strength. The mergers are agreements
Net Worth is the value of all your assets minus all liabilities. Assets include bank account balances, the market value
The Ontario Student Assistance Program (OSAP) is a financial help program offered by governments of Canada and/or Ontario for eligible students to pay for their college or university.
Is a mortgage with no limitations on prepayments. The interest rate on open mortgages is usually higher; however, it gives the greatest amount of flexibility to pay off the mortgage faster.
An overdraft on a bank account is when more money is withdrawn than the account currently holds. Overdrafts are a
Payday loans are small, usually $500 or less, short term loans that are due to be paid within two weeks
Payment Frequency is a determination of how often employees are paid. Most often employees are paid weekly, bi-weekly, semi-monthly or
A portable mortgage is the one in which an individual has the option of transferring an ongoing mortgage of a