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Vault Vocab
| Term | Definition |
|---|---|
| assets | what a person owns of value, such as jewerly, 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 oder 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 withdrawl your money |
| charity | giving resources or volunteering time to help those in need |
| comparison shopping | finding out wheter 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 |
| entrepreneur | a person who starts his or her own business |
| expense | the cost of the things that people spend on money |
| financial advisor | a person who is an expert at handling money and can give you information and advice about saving and investing |
| financial literacy | the knowledge and skills to manage money |
| health insurance | helps people pay for medicine and doctors when they ae 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 rise over time |
| interest | the extra fee charged for borrowing money, or the cost of borrowing money |
| investing | when you puchase 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't live without |
| opportunity cost | the cost we pay when we give up soemthing 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 |
| salary | payment for work, represented as a yearly sum and paid 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 | mone set aside for short- or long-term goals |
| savings account | an account that gains interest and allows withdrawls |
| short-term goal | a goal that can be achieved in a short amount of time. It can be a few days, weeks, or month |
| 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, ot 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 it |
Created by:
mlewis1
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