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Adulting Vocabulary
Senior Vocabulary
| Term | Definition |
|---|---|
| Compound growth | makes your money grow faster because interest is calculated on the accumulated interest over time as well as on your original principal. |
| Invest | expend money with the expectation of achieving a profit or material result by putting it into financial plans, shares, or property, or by using it to develop a commercial venture. |
| Debt | something, typically money, that is owed or due |
| Taxes | a compulsory contribution to state revenue, levied by the government on workers' income and business profits, or added to the cost of some goods, services, and transactions |
| Inflation | a general increase in prices and fall in the purchasing value of money |
| Insurance | a practice or arrangement by which a company or government agency provides a guarantee of compensation for specified loss, damage, illness, or death in return for payment of a premium |
| Identity theft | the fraudulent acquisition and use of a person's private identifying information, usually for financial gain |
| Priority | the fact or condition of being regarded or treated as more important |
| Auto-saver | automatically hiding the money from yourself in a separate account before you have the chance to spend it |
| Interest | money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt |
| Interest rate | the proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding |
| Standard & Poor’s 500 | a market-capitalization-weighted index of 500 leading publicly traded companies in the U.S. |
| Diversify | make or become more diverse or varied. |
| Tenant | a person who occupies land or property rented from a landlord |
| HOA | A homeowner association (HOA) is an organization in a subdivision, planned community, or condominium building that makes and enforces rules for the properties and residents |
| Principal | a sum of money lent or invested, on which interest is paid |
| Debit | an entry recording an amount owed, listed on the left-hand side or column of an account. |
| Credit | the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future |
| Deposit | 1. a sum of money placed or kept in a bank account, usually to gain interest 2. a sum payable as a first installment on the purchase of something or as a pledge for a contract, the balance being payable later. |
| Equity | the value of a mortgaged property after deduction of charges against it |
Created by:
jstath
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