🇨🇦Canada

📖 Financial Glossary

25+ financial terms explained in plain language. Search, browse by category, or explore A-Z.

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❓ Frequently Asked Questions

What is a financial glossary?

A financial glossary is a reference guide that defines financial terms in plain language. Our Canadian financial glossary covers products unique to Canada like RRSPs, TFSAs, FHSA, CPP, RESP, CESG, and more — explained so anyone can understand them.

Why are Canadian financial terms different?

Canada has its own financial products not found elsewhere: RRSP (tax-deferred retirement), TFSA (tax-free savings), FHSA (first home savings), CPP (contributory pension), RESP with CESG grants (education savings), plus provincial tax layers and unique mortgage stress test rules.

What are the most important Canadian financial terms?

TFSA, RRSP, and CPP are the three pillars of Canadian personal finance. Understanding how they interact — especially RRSP vs TFSA and when to use each — is the foundation of financial literacy in Canada. After that, FHSA, RESP, and the mortgage stress test are critical for homebuyers and parents.

How can I learn more about Canadian personal finance?

The Richify app is a great start — Felix can explain any term and help you apply it. For official guidance, check Canada.ca (CRA), Service Canada (CPP/OAS), and OSFI for mortgage rules. The Financial Consumer Agency of Canada (FCAC) offers free financial literacy resources.