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Finance cards
| Term | Definition |
|---|---|
| Abilites | The thing you do well |
| Annual fee | A yearly fee |
| Aptitudes | Your natural talents |
| APR | Annual percentage rate is the amount of interest charged for any unpiad balance |
| Bank | A for-profit institution that offers personal loans, mortgages, and other services |
| Bankruptcy | A legal process that gives a debtor protection from creditors |
| Bond | An IOU issued by a company , muncipality, or the federal government in exchange for a loan from an investor that will be repair with a set rate of return |
| Budget | A record of imcome and spending and a plan for managing money |
| Career cluster | A grouping of jobs and industrires related by skill or products |
| Cash | Money in the form of bills or coins |
| Check | A written order for a bank to pay money |
| Compound interest | Interest on the principal and the accumulated interest on depostit or a loan |
| Credit | The amount of financial trust extended to a person or a business by a lender; a laon |
| Credit card | A card authorizing the holder to buy goods and sevices that can be pair for later |
| Credit limit | The maximum a cardholder can borrow .It is recommended that cardholder keep a balance of no more than 25 percent of the credit limit |
| Credit report | A record of a person's financial information, Including previos addresses, Social Security number, current and previos employers,estimated incomes, creadit card accounts with amount owed and payment history, and loan information |
| Credit scored | A standardized measurement of the potential to repay a dept |
| Credit union | A non-for-profit cooperative that offers bank sevices and owned by its members |
| Debit | An amount deducted from a bank account |
| Debit card | A card that looks like a credit card but operates like cash;money is immediately subtracted from cardholder's bank account when a purchase is made |
| Debt | Money owed |
| Deducible/co-pay | Money piad out of the pocket before insurance covers the remaining costs |
| Discretionary income | Money available to spend on good and sevices that are not essential |
| Dollar-cost averaging | A method of investing a fixed amount in the same type of investment at regular intervals, regardless of price |
| Expenditures | Money that is spent on a good,services, and bills |
| Finance charges | The cost of credit-the fee and interest charged to finance the unpiad balance |
| Financial insitution | a business that provides money-related services |
| Fixed cost | A businesses cost that remains the same , such as rent |
| Fixed expenses | Expenses that do not change from mounth to mounth , such as auto insurance or rent |
| Foreclosure | A legal process in which a lender takes possession of mortgaged property from a mortgage holder who failed to make payments |
| Implused buying | Making a puchase based on an immediate want or due to the pressure of advertising |
| Income | Money received on a regular basis for work or through investment |
| Income tax | A portion of one's personal incomed paid to the government |
| Isurance policy | A contract that outlines coverage plans and protects a person againist financialloss or damage |
| Interest | A fee received or paid for the use of money |
| Interests | The thing you like and enjoy doing |
| Internet bank | A Web-only bank |
| Invest | To commit money to gian a profit or earn interest |
| Long-term goals | Plans that take a year or more to accomplish |
| Market reserach | Gathering consumer preferences for products and sevices |
| medicare | A social insurance program that extends health coverage to almost all Americans age 65 and over |
| Minimum payment due | The smallest amount that can be paid to meet loan requirements |
| Mobile banking | A wireless sevice that allows financial transactions by using an app or Web brower from a mobile device |
| Mutual fund | A collection of stocks or bonds of various corporations |
| Needs | Good and sevices that peole cannot survive without, such as water, food, shelter, and clothing |
| Online banking | An electornic way to view account acitivity and pay bills via the internet and an insitution's website |
| Opportunity cost | The next best alternative given up when making a financial choice |
| PayPal | An online payment service that allows consumers to transfer money electronically |
| Pay yourself first | To automatically save a specified amount from a paycheck for future use |
| Premium | The amount piad for an insurance policy |
| Previous balance | Amount still owed from purchases prior to the current 30-day charge cycle |
| Principal | The amount of money originally |
| Risk | The possibility of a financial loss ot physical harm |
| Savings account | An Interest bearing account where people put money for future use |
| Scarcity | The economic condition of limited resources that prevents people from having everything they want |
| Short-term goals | Plans that can be accommplished within three months to a year |
| Simple interest | Interest that is paid only on the original principal |
| social security | A ocial insurence system that provides benefits to most Americans who are retired, sick or too disabled to work and to families of workers who have died |
| stocks | A share of corporation sold to the pibulic |
| taxes | Required payments to a goverments |
| 3Cs of credit | The factors that determine a credit score:character:capacity to repay; and capital,or what a person owns |
| Values | The ideals that are important to you and your career choice |
| variable cost | |
| Variable expenses | |
| Wants |
Created by:
23gonzalez.jacob
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