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Chapter 20 Vocab
Personal Finance and Economics
| Term | Definition |
|---|---|
| Consumer | A person who purchases goods and services |
| Disposable Income | Money income remaining after have been paid |
| Discretionary Income | Money left after necessities that have been paid for |
| Consumerism | A movement to educate buyers |
| Comparison Shopping | Looking at what other stores have in comparison to the one you're at |
| Warranty | A companies guaranty that it won't break |
| Budget | A detailed breakdown of everything you've bought |
| Income | Amount of money you make |
| Expenses | What you have to pay for |
| Credit | Using someone else's money to buy something now |
| Annual Percentage Rate | Annual cost of credit expressed as a percentage of the amount borrowed |
| Collateral | Property or valuable serving as a security for a loan |
| Bankcruptcy | Unable to pay your debt |
| Save | To set aside income to use it for a later date |
| Interest | The payment people receive when they lend money to someone who needs it |
| Principal | The most important |
| Return | Profit earned through investing |
| Stock | Ownership or share of a company |
| Dividend | Payment of a portion of a companies earning |
| Bond | Contract to borrowed money with interest at a specific time in the future |
| Mutual Funds | Pools of money from people who want to buy stocks as a group and share them |
| Impulse Buying | Purchasing an item on the spot due to emotional feelings to do so |
Created by:
alecperrell
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