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saving and investing

TermDefinition
savings part of the income we dont spend
investing using our money to earn a greater return than is possible from an ordinary savings account
building society a financial institution that provides a wide range of banking services to their customers
credit unions a non-profit organisation where people save regularly
an post a commercial organisation providing postal,communication,money transmission and retail services to businesses and personel customers
savings bonds you purchase these to make a 10% profit over 3 years
savings certificate you purchase these to make a 21% profit over 5 years
national instalment savings you lodge a sum of money and the amount must be left five years to make a profit
deposit account when interest is paid on your account each year
money order an order to a post office to pay a person a certain amount of money
intrerest the reward for saving money
simple interest simple interest is where the interest is a percentage of the money you put in the account
compound interest when interest is calculated on your savings and the money you had before them
CAR the actual rate of interest you are earning on your savings/investment
DIRT the tax on savings
Created by: pchbusinessliam
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