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Vault Vocab
| Term | Definition |
|---|---|
| Assets | what a person owns of value |
| Bank | A place where people put their money for safekeeping |
| Brokerage Firm | Helps people invest their money |
| Budget | A spending plan people make in order to make sure there is enough money 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 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 is a good deal |
| 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 buisness |
| 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 financial information and advice |
| 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 government |
| 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 it will make you 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 could 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 |
| Peer Presure | Doing stuff just because your friends are doing it |
| Privacy | keeping important information to yourself or between yourself and your close family members |
| Reliability | being trustworthy |
| Risk | an activity or action that might be dangerous |
| Risk Pervention | Stuff you do to stop consequences of risks |
| Salary | Payment for work, yearly |
| 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 withdrawls |
| 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 |
| Wage | Payment for work, hourly or daily |
| Want | Something you would like to have but will be okay without |
Created by:
crolph
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