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JA Finance Vocab.
| Term | Definition |
|---|---|
| Abilities | The things you do well. |
| Annual Fee | A yearly fee. |
| Aptitudes | Your natural talents. |
| APR | Annual percentage rate is the amount of interest charged for any unpaid 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, municipality, or the federal government in exchange for a loan from an investor that will be repaid with a set rate of return. |
| Budget | A record of income and spending and a plan for spending and a plan for managing money. |
| Career cluster | A group of jobs and industries related by skills 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 a deposit or a loan. |
| Credit | The amount of financial trust extended to a person or a business by a lender; a loan |
| Credit card | A card authorizing the holder to buy goods and services that can be paid for later. |
| Credit limit | The maximum a cardholder can borrow. It is recommended that cardholders keep a balance of no more than 25 percent of the credit limit. |
| Credit report | A record of a person's financial information, including previous addresses, Social Security number, current and previous employers, estimated income, credit card accounts with amount owed and payment history, and loan information |
| Credit score | A standardized measurement f the potential to repay a debt. |
| Credit union | A non-for-profit cooperative that offers bank services and is owned by its members. |
| Debit | An amount deducted from a bank account. |
| Debit card | A card that looks like a credit card buy operates like cash; money is immediately subtracted from the cardholder's bank account when a purchase is made. |
| Debt | Money Owed. |
| Deductible/co-pay | Money paid out of pocket before insurance covers the remaining costs. |
| Discretionary income | Money available to spend on goods and services 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 goods, services, and bills. |
| Finance charges | The cost of credit-the fees and interest charged to finance the unpaid balance. |
| Financial institution | A business that provides money-related services. |
Created by:
AndyNguyen
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