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FL Week 3

Financial Literary Week 3 Terms

TermDefinition
Earned Interest the payment you receive for allowing a financial institution or corporation to use your money
Employee Benefits Additional benefits, beyond a paycheck, offered by employers (e.g., health insurance or pension plan).
Equity The difference between how much your house is worth and how much you owe on your mortgage.
Fixed Expenses Expenses that cost the same amount every time
Grace Period The length of time you have before you start accumulating interest or get charged late fees on an unpaid balance
Gross Income The total amount of income from wages before any payroll deductions
Identify Theft When someone uses your name, Social Security number, credit card number, and other personal information without your permission
Income any money an individual receives
Interest the additional amount you will pay to a lending institution to borrow money. In terms of savings, interest is the additional amount you will earn for having your money in a bank account or other savings vehicle
Investment Setting aside money for future income, benefit, or profit to meet long-term goal; using savings to earn a financial return
Created by: awwinfrey