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VAULT
| Term | Definition |
|---|---|
| assets | what a person owns of value, such as jewelery,savings, art, home, and a car. |
| bank | a place where people put their money for safekeeping, and for easy access. |
| brokerage firm | helps people invest their money |
| budget | a spending plan people make in order to make sure there is enough income to civer all expenses |
| career | something you build by going to school and working jobs related to the career you want. |
| certificiate of deposit | a savings certificate that gains interest and has a set time bfore you can withdraw the money. |
| charity | giving resources or volunteering time to help those in need.interest |
| comparrison shopping | finding out whether or not qhat 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 stuff less dangerous or dangerous at all. |
| credit | a 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. |
| decision making | considering different information to make a choice |
| entrepreneur | a person who starts his or her own business. |
| expense | the cost of things that people spend money on |
| financial advisor | a person who is an expert at handlong moaney and can give you information and advice aboyt money and savings. |
| financial institution | a place, like a bank, that helps its members manage money. |
| literacy | the knowledge and skills to manage money. |
| insurance | helps people pay for medicine and doctors when they are sick or hurt. |
| impulse buying | bbuying stuff without thinking about whther you need it or not. |
| income | money earned from working and other means. |
| income tax | annual tax placed on the employees make at jobs and collected by the federal government, most states, and some local governments. |
| inflation | the price of goods and services rises over time. |
| interest | an extra fee charged for borrowing money or the cost og borrowing money. |
| investing | when you a security like a stock or a bond, in the hopes over time that it will make money |
| job | work you do for money |
| long-term goal | a goal that can be achieved in a longer amount of time. |
| need | something you truly cannot live without |
| oppurtunity cost | the cost we pay to give up something to get something else. |
| payment method | what you use to pay for something |
| peer pressure | doing stuff because your friends are doing it, or because your friends told you to, because you want your friends to like you. |
| privacy | keeping important information to yourself, or in between your family members. |
| reliability | being trustworty; being responsible |
| risk | an activity that might be dangerous. |
| risk prevention | stuff you do to stop consequences from happening |
| salary | payment for work, represented as a yearly sum and paid in proportions |
| sales tax | a fee added to the sticker price of an item that is paid to state only. |
| savings | money set aside for short- or long term goals. |
| savings account | an account hat gains interest and allows withdrawals |
| short-term goals | a goal that can be achieved in a short amount of time |
| spend | to use money to buy stuff |
| taxes | fees placed on income, purchases, ot property to support government programs |
| wage | paumrnt for work, usually calculated on an hour, daily, or piecework basis and paid on schedule |
| want | something you would like to have but will be okay without |
Created by:
benriddle
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