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Personal Finance 1
vocabulary review
| Term | Definition |
|---|---|
| 401K plan | an employer-based plan where employees set aside money for retirement that is sometimes matched by employers |
| 403K plan | A retirement account for employees of schools, tax-exempt organizations, and government units |
| adjusted balance method | a way to compute finance charges in which creditors add finance changes after subtracting payments made during the billing period |
| adjusted gross income | income minus allowable exclusions(such as IRAs and alimony) |
| AMEX | American Stock Exchange, which is one of the organized stock markets of the US |
| Amount due | when referring to credit, the minimum monthly payment you must make, not the total amount you owe |
| annual fee | the annual membership fee, if any, to have a credit card |
| Annual Percentage Rate(APR) | the cost of credit for one year expressed as a percentage |
| Annual Percentage Yield(APY) | the true or effective rate of interest when compounding is taken into effect |
| annual report | information about a company that allows a potential investor to make an investment decision: shows company in a favorable light |
| annuity | contract or agreement where money is set aside for a specified period of time and then receive regular payments |
| assets | property that can be used to repay debt, such as stocks and bonds or car |
| automatic deductions | authorized deductions from your checking account, such as for insurance premiums, safe deposit box fees, or other payments |
| available credit | unused portion of the credit for which one is eligible |
| back-end load | a mutual fund where you pay a commission when you sell your shares |
| balance | to reconcile the sums of the debits and credits of an account |
| balanced fund | a mutual fund that invests in a mix of stocks and bonds to minimize risks |
| bankruptcy | legally insolvent; not capable of paying bills |
| bear market | a market characterized by falling prices of 15 percent or more; characterized by pessimism |
| bearer bond (coupon bond) | a bond not registered by an issuing company |
| benefits | sick pay, vacation time, and other company-provided supplements to income |
| billing cycle | the number of days between your last bill and your current bill |
| billing error | any mistake in your monthly statement as defined by the Fair Credit Billing Act |
| blue chip stocks | stocks in the biggest, most established, and consistently profitable companies in the US |
| bond fund | a mutual fund that invests in government, corporate, or tax-exempt bonds with different maturity dates |
Created by:
SusieQ60
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