click below
click below
Normal Size Small Size show me how
Cha. 10 Vocab
personal finance
| Question | Answer |
|---|---|
| saving | collecting money for a certain purpose |
| discretionary income | the money left over after you have paid your necessary expenses |
| short-term needs | expenses beyond your regular monthly items |
| long-term needs | expenses that are costly and require years of planning and saving |
| loan consolidation | combining many loans into one large loan with one monthly payment |
| principal | the total amount borrowed |
| interest | earnings on principal |
| compound interest | interest paid on the original plus accumulated interest |
| APY | annual percent yield |
| FDIC | Federal Deposit Insurance Corporation |
| NCUA | National Credit Union Association |
| share accounts | savings and checking accounts at credit unions |
| stockbroker | a person who works for brokerage firms |
| liquidity | a measure of how quickly ou can get your cash without loss of value |
| maturity date | the date on which an investment becoems due for payment |
| direct deposit | your net pay is deposited electronically into your bank account |