Your All-in-One Canadian Financial Dictionary
Financial institution
Any place that manages money, like banks, credit unions, or online financial services.
Financial planning
A step-by-step approach to managing your money so you can reach your goals, like buying a home, investing, or retiring comfortably.
Financing
Using borrowed money (like a loan or credit) to pay for something now and repay it over time.
Fixed rate
An interest rate that stays the same for a set period, so your payments don’t change.
Fixed-income fund
An investment that focuses on steady income, usually by holding bonds. It’s generally more stable but grows slower than stocks.
Fixed-rate mortgage
A mortgage where your interest rate and payments stay the same during the term. It gives you predictability, even if rates rise.
Foreign exchange
Converting money from one currency to another, like Canadian dollars (CAD) to US dollars (USD).
Goods and Services Tax (GST)
A federal tax, added to most goods and services in Canada when you make a purchase.
Gross earnings or pay
Your total income before taxes and deductions are taken out.
Growth fund
An investment that focuses on stocks expected to grow faster than average. The goal is to increase your money over time, but the value can go up and down along the way.