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Strand 4

TermDefinition
Liquidity How easy it is to turn an asset into cash without losing a lot of value
Direct Deposit The deposit of funds electronically into a bank account rather than through a physical, paper check.
Overdraft A deficit in a bank account caused by drawing more money than the account holds.
Non-Sufficient Funds (NSF) The status of a checking account that does not have enough money to cover all transactions.
Deposit A sum of money placed or kept in a bank account, usually to gain interest.
Reconciliation The accounting process by which 2 different data sets are compared to verify that the information within them is accurate.
Checking An account held at a financial; institution that allows deposits and withdrawals.
Savings Represents a net surplus of funds for an individual or household after all expenses and obligations have been paid.
Bank A bank is a ¨for profit¨ Financial institution licensed to receive deposits and make loans.
FDIC An independent federal agency insuring deposits in U.S. banks in the event of bank failures. The FDIC insures deposits up to $250,000.
Credit Union A nonprofit-making money cooperative whose members can borrow from pooled deposits at low interest rates.
NCUA An independent federal agency that insures deposits at federally insured credit unions up to $250,000.
Savings Accounts A bank account that earns interest.
Principal The baseline sum in financial transactions-the initial amount invested or borrowed.
Compound Interest The interest on savings calculated on both the initial principal and the accumulated interest from previous periods.
Over Saving A process of saving in excess of the amount capable of being absorbed by investment that is regarded by some economists as a major cause of depressions in the modern economy.
Certificates of Deposit (CD's) A certificate issued by a bank to a person depositing money for a specific length of time.
Pay Yourself First (PYF) Setting aside money for savings before paying bills and making other purchases while still keeping up with debt obligations.
Simple Interest Charge that borrowers pay lenders for a loan.
Risk The possibility of losing money on an investment or business venture.
Return Measure of an investments total interest dividends and capital gains, expressed as a financial gain or loss over a specific timeframe.
Diversification Spreading of your investments both among and within different asset classes.
Compounding Interest Earning interest on interest
Securities Financial investments that can be bought and sold.
Funds A collection of money that is set aside for a specific purpose
Stock Market A place where people buy and sell shares of companies.
Share A unit of ownership in a company, also known as stock or equity.
Retirement Accounts Money saved or invested to be use in retirement.
Roth 401(k) An employer-sponsored retirement savings account that is funded with post-tax money.
401(k) An employer-sponsored retirement savings account that is funded with pre-tax money and employer matching.
Roth IRA An individual retirement account allowing a person to set aside after-tax income up to a specified amount each year.
IRA An individual retirement account allowing a person to set aside income with deferred taxation, when they withdraw funds.
Stock A share in the ownership of a company, including a claim on the company's earnings and assets.
Bond Issued by governments and corporations when they want to raise money, or in other words they are borrowing money from you.
Collectibles Items that are worth far more than their original sale price and are considered alternative investments, such as art, baseball cards, and memorabilia.
Commodities Raw materials or primary agricultural products.
Real Estate Land and property that generates income through rentals.
Index Fund
Mutual Fund A pooled collection of assets that invests in stocks, bonds, and other securities.
Created by: shelbyfinlit.com
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