Clear explanations without jargon or pressure.

The yearly cost of borrowing money.

Example: 20% APR on $1,000 ≈ ~$200/year (roughly).

Why it matters: Carrying a balance gets expensive fast.

Returns that earn returns.

Example: Growth stacks on top of growth over time.

Why it matters: Time is the cheat code.

How much of your credit limit you're using.

Example: $300 used on a $1,000 limit = 30%.

Why it matters: Lower utilization usually helps your score.

A basket of investments you buy like a stock.

Example: 1 ETF can hold hundreds of companies.

Why it matters: Easy diversification without picking winners.

A “lock-it-in” investment where you lend money to a bank for a set time and get a guaranteed interest rate.

Put $1,000 into a 1-year GIC at 5% → after 1 year you get about $1,050 (before tax, if it’s in a non-registered account).

Why it matters: A GIC gives you predictable, low-risk growth but the trade-off is reduced access to your money until it matures.

Textbook definition: The ease and speed with which an asset can be converted into cash.

Cash is fully liquid, something like a PS5 has cash value, but needs to be sold first.

Why it matters: Your emergency fund should be liquid; investments or “stuff” can take time to cash out.

Not enough money for a payment.

Rent tries to pull, account is short → bounce + fee (RBC charges $45).

Why it matters: Fees stack + can trigger more failed payments.

A student loan program that can lower your monthly payment (and in some cases pause it) if your income is low relative to your expenses.

You finish school, your payment is $220/month, but you’re only working part-time. RAP can reduce that payment to something manageable while you get stable income.

Why it matters: It can prevent missed payments (and credit damage) while you’re in that “new grad / broke student” phase.

Adjusting your portfolio back to its original target mix.

Your plan is 50% Canadian, 50% international. Canada outperforms and drifts to 60/40. Rebalancing sells some Canadian and buys international to get back to 50/50.

Why it matters: Without it, your portfolio slowly becomes riskier than you want. All-in-one ETFs like XEQT do this automatically.

A tax a government puts on imported goods (sometimes exports), usually to make foreign products more expensive.

A 10% tariff is imposed to a $100 imported item, the importer may pay $10 extra, and the price in stores can rise.

Why it matters: Tariffs can push up prices (inflation pressure), affect what companies earn, and even influence jobs in certain industries.

How much a price goes up and down over time.

Stock A moves between $90–$110 in a month (high volatility). A savings account stays at $100 (low volatility).

Why it matters: More volatility = bigger swings (riskier short-term), so match it to your time horizon.