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| Term | Definition |
|---|---|
| assets | what a person owns of value, such as jewelry, savings, art, a home, and a car |
| bank | a place where people put their money for safekeeping, and for ease of use |
| bankerage firm | helps people invest their money |
| budget | spending plan people make in order to make sure there is enough income to cover all expenses |
| carer | something you build by going to school and working jobs related to the career you want |
| certificate of deposit | savings certificate that gains interest and has a set time before you can withdraw your money |
| carity | giving resources or volunteering time to help those in need |
| comparison shopping | finding out whether or not what you are about to buy can be found for a better price or in better shape at a different store |
| controlling risks | stuff you do to make risks less dangerous or not dangerous at all |
| credit | loan that a person uses to pay for things, but is expected to pay back |
| credit union | just like a bank, only its members own it |
| decison making | considering different information to make a choice |
| enterprenuer | person who starts his or her own business |
| expense | the cost of the things that people spend money on |
| financial advisor | person who is an expert at handling money and can give you information and advice about saving and investing |
| financial institution | a place like a bank that helps its members manage their money |
| financial literacy | the knowledge and skills to manage money |
| health insurance | helps people pay for medicine and doctors when they are sick or hurt |
| impulse buying | buying stuff without thinking about whether or not you need it |
| income | money earned from working and other means |
| income tax | annual tax placed on the money employees make at jobs and collected by the federal government, most states, and some local governments |
| inflation | annual tax placed on the money employees make at jobs and colected by the federal governement,most stated, and some local governments |
| interest | the extra fee charged for borrowing money, or cost of borrowing money |
| investing | when you purchase a security like a stock or bon, in the hopes that over time it will make money |
| job | work you do for money |
| long-term goal | a goal that can be acheived in a longer amount of time. It can be months, years, or even an entire lifetime |
| need | something you truly can not live without |
| opportunity cost | the cost we pay when we give up something to go to get something else |
| payment method | what you use to pay for something, like cash or check |
| peer preusre | doing stuff just because your friends are dpoing it, or because your friends told you to, becuse you want your friends to like you and think you are cool |
| privacy | keeping important imformation to yourself or between yourself and close family |
| reliability | being trustworthy; being responsible |
| risk | an activity or action that might be dangerous |
| risk pervention | stuff yo do to stop conequences of risks from happening |
| salary | payment for work, represented as a yearly sum and paid in portions every week, 2 weeks, or month including sick time and vacation time |
| sales tax | a fee added to the stickers price of an item that is to the state or city |
| savings | money set aside for short- or long- term goals |
| savings account | an acount that gains intrest and alloows withdraws |
| short-term goal | a goal that can be acheived in a sor amount of time. IT can be a few days, weeks, or months |
| spend | to use money to but stuff |
| taxes | fees placed on income, purchases, or property to support govenment programs |
| wage | payment for work, usaually calculated on an hourly, daily, or peicework basis and paid on scedule- usuall every week or 2 weeks or month |
| want | something you woulf like to have but will be ok without it |
Created by:
mmagostinelli
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