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Understanding Money
Understand Money Vocabulary Part 2
Term | Definition |
---|---|
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 money on |
Financial advisor | a person who is an expert at handling money and can give you information nand advice about saving and investing |
Financial literacy | the knowledge and skills to manage money |
Goods | things that are made to be sold |
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 | money earned from working and other means |
Inflation | the price of goods and services rises over time |
Interest | they extra fee charged for borrowing money, or the cost or borrowing money. |