click below
click below
Normal Size Small Size show me how
Financial
Money Vocabulary
| Term | Definition |
|---|---|
| Grant | money given to you that you do not have to repay |
| Student Loan | money given to you that you must repay; usually with interest |
| Post-Secondary Education | classes taken after high school graduation |
| Savings | your own money kept away for a later time |
| Scholarship | money awarded to you to pay for college |
| Tuition | the cost of attending college |
| Vocational Training | training you get on the job |
| Work-Study | a job on a college campus; tuition reimbursement |
| Balance | the amount of money in the checking account after calculating deposits and withdrawals |
| Check Register | a balance sheet to keep track of spending |
| Bank | financial institution dealing with money transactions |
| Bankruptcy | a legal action when a person cannot pay their bills |
| Borrower | a person taking money with intentions to pay it back |
| Charge | to buy something on a credit card that you need to pay back |
| Checking Account | a safe place in a bank that you can keep your money and withdrawal when needed |
| Credit Card | a card used to purchase or pay something now and pay back over time with interest |
| Credit History | a record of any financial transactions or payments made in your lifetime |
| Credit Report | information gathered from credit history; negative items stay up to 7 years |
| Credit Score | a number that represents a person's creditworthiness |
| Debit Card | a card used to purchase or pay for something out of your bank account |
| Debt | spending more than you have in your bank account |
| Deposit | putting money into the bank |
| Fee | money you have to pay for services; service charge |
| Interest | money paid at a regular rate for the use of money lent |
| Lender | a company that gives money expecting you to pay it back overtime with interest |
| Loan | the amount of money being given that will be payed back |
| Overdraft | when you spend more money than you have in the bank |
| Transaction | anytime money goes in or out of your account |
| Transfer | money moving from checking account to savings account |
| Withdrawal | money leaving your account; bills, fee, purchases |
| Annual Salary | how much money you earn in a years time |
| ATM | automatic teller machine; a place to receive money from their checking/savings account |
| Career | the job you choose to pursue for a long period of time |
| Checks | money in the form of a paper that you fill out and sign to withdrawal money from your account |
| Income | how much you earn for a paycheck |
| Lifetime Salary | the money you make in your lifetime |
| Salary | getting paid a set paycheck at the same time every month |
| Savings Account | a bank account that earns money over time (interest) |