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PF terms
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| Term | Definition |
|---|---|
| 401k | A defined-contribution plan for employees of companies that operate for a profit |
| Adjusted Gross Income | Gross income less adjustments |
| Annual Percentage Rate | The cost of credit expressed as a yearly percentage |
| Annuity | A contract in which you make a lump-sum payment or series of payments that earn interest in return for regular disbursements, often after retirement |
| Appreciation | An increase in value |
| Assets | Items of value that a person owns |
| Audit | An examination of income by the IRS |
| Bankruptcy | A legal process that relieves debtors of the responsibility of paying their debts or protects them while they try to repay |
| Bear Market | A prolonged period of falling stock prices and a general feeling of investor pessimism |
| Benefits | Forms of employer compensation in addition to pay |
| Blue Chip Stock | Stocks of large, well-established corporations with a solid record of profitability |
| Budget | A spending and saving plan based on your expected income and expenses |
| Bull Market | A prolonged period of rising stock prices and a general feeling of investor optimism |
| Canceled Check | A check that has cleared your account |
| Capitalism | A type of hands-off economic system where producers and consumers are free to operate and compete in business transactions with minimal, if any, government interference of regulation |
| Cash Deficit | When estimated expenses are greater than estimated income |
| Cash Surplus | When estimated income is greater than estimated expenses |
| Cashier’s Check | A check written by a bank on its own funds |
| Certificate of Deposit | A time deposit that earns a fixed rate of interest for a specified length of time |
| Class Action Lawsuit | A lawsuit in which a large number of people with similar complaints against the same defendant join together to sue |
| Collateral | Property pledged to assure repayment of a loan |
| Compound Interest | Interest paid on the original principal plus the accumulated interest |
| Cosigner | A person who promises to pay the debt of another person |
| Credit Score | The total of assigned points based on several factors that tells potential creditors the likelihood of you repaying the debt as agreed |
| Debt Collector | A person or company hired by a creditor to collect the overdue balance on an account |
| Deductible | The specified amount of a loss that the insured must pay |
| Depreciation | A decline in the value of property due to normal wear and tear |
| Direct Deposit | Your net pay is deposited electronically into your bank account |
| Dividend Reinvestment Plan | The use of dividends previously earned on the stock to buy more shares |
| Dividends | Money paid to stockholders from the corporation's earnings |
| Down Payment | Part of the purchase price paid in cash up front |
| Equity | The difference between the market value of property and the amount owed on it |
| Estate | All that a person owns less debts owed, at the time of the person's death |
| Filing Status | Your tax-filing group based on your marital status as of the last day of the tax year |
| Fixed Expenses | Costs that do not change from month to month |
| FTC | An agency that regulates unfair methods of competition, false or deceptive advertising, deceptive product labeling, and the concealment of the true costs of credit |
| Gross Income | All of the taxable income you receive during the year |
| Growth Stocks | Stocks in corporations that reinvest their profits into the business so that it can grow |
| HSA | An account used in association with a medical plan that carries a higher annual deductible than typical health plans |
| Income Stocks | Stocks in corporations that have a consistent history of paying high dividends to stockholders |
| Index Fund | A mutual fund that tries to match the performance of a particular index by investing in the companies included in that index |
| Individual Retirement Account (IRA) | A retirement plan that offers tax advantages and allows individuals to set aside a specified amount each year |
| Inflation | A rise in the general price level |
| Interest | Earnings on principal |
| Investing | The use of long-term savings to earn a financial return |
| Liabilities | Money or debts owed to others |
| Liquidity | A measure of how quickly you can get your cash without loss of value |
| Monopoly | A market with many buyers but only one seller |
| Net Pay | The amount left after all deductions are taken from and employee's gross pay |
| Net Worth | The difference between assets and liabilities |
| Notary Public | A person who verifies a person's identity, witnesses the person's signature on a legal document, and then "notarizes" the signature |
| Overdraft | A check written for more money than your account contains |
| Overtime | Time worked beyond regular hours |
| Par Value | An assigned dollar value given to each share of a stock |
| Penny Stocks | Low-priced stocks of small companies that have no track record |
| Phishing | A scam that uses online pop-up or e-mail messages to deceive you into disclosing personal information |
| Portfolio | A collection of investments |
| Power of Attorney | A legal document authorizing someone to act on your behalf |
| Principal | 1. The amount of money you deposit into a savings account. 2. The amount borrowed on which the borrower pays interest |
| Progressive Tax | A tax that takes a larger share of one's income as the amount of income increases |
| Pyramid Scheme | A multilevel marketing plan that promises members (distributors) commissions from their own sales and of other members they recruit |
| Rule of 72 | A technique for estimating the number of years required to double your money as a given rate of return. |
| Safe Deposit Box | A place at your bank available to store valuable items or documents |
| Salary | A fixed annual amount of gross pay |
| Scarcity | A basic economic problem in which consumers wants are unlimited, while the resources for producing the products to satisfy those wants are limited |
| SEC | An agency whose main purpose is to protect investors and maintain the integrity of the securities markets |
| Security Deposit | A refundable amount that a renter pays in advance to protect the property owner against damage or nonpayment |
| Stock | A unit of ownership in a corporation |
| Tax | A payment imposed on a taxpayer by a government unit |
| Tax Bracket | An income range that a tax rate is applied to |
| Tax Revenue | Incoming funds to the government collected from individuals and businesses in the form of taxes. |
| Tenant | A person who rents property |
| Variable Expenses | Costs that vary in amount and type, depending on the choices you make |
| Wage | A fixed hourly rate earned by employees |
| Will | A legal document that tells how an estate is to be distributed when a person dies |
Created by:
cbyrd59
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