Your All-in-One Canadian Financial Dictionary
Electronic Funds Transfer (EFT)
Moving money between accounts electronically, no cash or cheques needed. This includes direct deposits and bill payments.
Employment Insurance (EI)
A government program that gives you temporary income if you lose your job, get sick, or need time off for certain life events. You pay into it through your paycheque.
Equities
Investments like stocks that represent ownership in a company. Their value can go up or down over time.
Exchange Traded Funds (ETF)
An investment that lets you buy a mix of stocks, bonds, or other assets in one purchase. Instead of buying many investments individually, an ETF gives you a ready-made basket that can help spread risk and simplify investing.
Expenses
All the money you spend. This includes recurring expenses (like rent and subscriptions) and everyday spending (like groceries and transportation).