CALM Review

2. A Canadian account to save for retirement, with tax-deferred growth
3. A formal review of financial records to ensure accuracy and compliance with laws or regulations
4. The amount of money you pay out-of-pocket for an insurance claim before the insurer covers the rest
9. The amount paid regularly to an insurance company to keep a policy active
11. Essentials for survival, like food, shelter, and healthcare
12. Non-essential items that improve quality of life, like entertainment and luxury goods
15. Account used for buying and holding stocks, bonds, and other assets
17. A savings account for a child’s education, with government grants available
19. The income you take home after deductions like taxes, insurance, and other withholdings
20. What you own that makes you money
21. What you own that loses your money

1. A loan used to buy property, where the property itself serves as collateral
5. Account used for daily transactions, like paying bills and shopping
6. The value of ownership in an asset, such as the difference between the value of your home and what you owe on it
7. The income earned before any deductions are taken out
8. A tax-advantaged account to save for a first home
10. Money is taken directly from your bank account when you make a purchase
13. A flexible savings account where investment growth is tax-free
14. A fee charged for borrowing money or earned on savings and investments
16. Borrowed money that must be paid back later, usually with interest
18. Account used to store money and earn interest over time