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finances vault
| Term | Definition |
|---|---|
| Certificate of deposit | A savings certificate that gains interest and has a set time before you can withdraw your money |
| 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 |
| 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 |
| Controlling risk | 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 |
| Decidion 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 money on |
| Financial advisor | A person who is an expert at handling money and can give you information and advise about saving and investing |
| Financial institution | A place, like a bank, that helps its member manage their money |
| financial literacy | The knowlege and skill to manage money |
| Health insurance | Helps people pay for medicine and doctors when they ane sick or hurt |
| Impulse buying | Buying stuff wihtout thinking about whether or not you need it |
| Income | Money earned from working or other means |
| Income tax | Annual placed on the money employees make at jobs and collected by the federal government, most states, and some local government |
| 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 purchase a security like a stock or bond, in the hopes that over time it will make money |
| Job | Work you do for money |
| Longterm goal | A goal that can be achieved in a longer amount of time. |
| Need | Somthing you truly can not live without |
| Opporitunity cost | The cost we pay when we give up somthing to get somthing else |
| Payment method | What you use to pay for somthing, like cash or a check |
| Peer pressure | doing stuff just becuse your friends are doing it, or becuse your friend told you to do it, becuse you want your friends to like you |
| Privacy | Keeping important information to yourself |
| Reliability | Being trustworthy; being responsable |
| Risk | An activity or action that might be dangerous |
| Risk prevention | Stuff you do to consequences of risk from happening |
| Salary | Payment for work, represented as a yearly sum and paid in portion every week, two week, or month including sick time or vacation time |
| Sales tax | A fee added to the sticker price of an item that is paid to the state or city |
| Saving | Money set aside for short- or long-term goals |
| Savings account | An account that gains interest and allows withdrawal |
| Short-term goal | 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, or property to support government programs |
| Wages | Payment for work, usually calculated on an hourly, daily, or piecework basis and paid on schedule- ussually every week, two weeks, or month |
| Want | Somthing you would like to have but will be okay without |
Created by:
Jvaughan
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