Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Vault Vocab
| 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 |
| brokerage firm | helps people invest their money |
| budget | a spending plan people make in order to make sure there is enough income to cover all expenses |
| career | something you build by going to school and working jobs related to the career you want |
| certificate of deposit | a savings certificate that gains interest and has a set time before you can withdraw your money |
| charity | 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 | 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 |
| entrepeneur | a person who starts his or her own business |
| expense | the cost of the things that people spend money on |
| financial advisor | a 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 | the price of goods and services rises over time |
| interest | the extra fee charged for borrowing money, or the cost of borrowing money |
| investing | when you purchase a security like a stock or bond, in the hopes that over time 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. 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 get something else |
| payment method | what you use to pay for something, like cash or a check |
| peer pressure | doing stuff just because your friends are doing it, or because your friends told you to, because you want your friends to like you and think you are cool |
| privacy | keeping important information to yourself or between yourself and close family members |
| reliability | being trustworthy; being responsible |
| risk | an activity or action that might be dangerous |
| risk prevention | stuff you do to stop consequences of risks from happening |
| salary | payment for work, represented as a yearly sum and paid in portions every week, two weeks, or month including sick time and vacation time |
| sales tax | a fee added to the sticker price of an item that is paid to the state or city |
| savings | money set aside for short- or long-term goals |
| savings account | an account that gains interest and allows withdrawals |
| short-term goal | a goal that can be achieved in a short amount of time. It can be a few days, weeks, or months |
| spend | to use money to buy stuff |
| taxes | fees placed on income, purchases, or property to support government programs |
| wage | payment for work, usually calculated on an hourly, daily, or piecework basis and paid on schedule - usually every week, two weeks, or month |
| want | something you would like to have but will be okay without |
Created by:
bvaughan
Popular Economics sets