Career Launch
Your natural talents and the things you are inherently good at doing.
What is aptitude?
Money in the bank or cash in your pocket that you can spend immediately.
What are liquid assets?
The original amount of money you deposit into a savings account or invest before it starts earning extra cash.
What is the principal?
Property consisting of land, houses, or buildings.
What is real estate?
The level of wealth, comfort, and material goods available to a person or a community.
What is a standard of living?
A short, one-page summary of your education, skills, and work experiences that you give to a boss when applying for work.
What is a resume?
A plastic card that immediately takes money directly out of your checking account when you buy something.
What is a debit card?
The extra reward money a bank pays you for letting them hold onto your savings, or the extra fee you pay to borrow money.
What is interest?
A legal agreement you sign to rent an apartment or house for a specific amount of time.
What is a lease?
A retirement savings plan sponsored by an employer that lets you save a portion of your paycheck automatically.
What is a 401k?
A formal letter you send along with your resume to introduce yourself and explain why you are the perfect fit for a specific opening.
What is a cover letter?
Managing your money through mobile apps or websites instead of physically walking into a local neighborhood branch.
What is electronic banking?
Earning interest on top of the interest you’ve already earned, which makes your savings snowball and grow faster over time.
What is compounding interest?
A special type of long-term loan used specifically to purchase a piece of property or a house.
What is a mortgage?
A refundable sum of cash paid to a landlord before you move into a rental to cover any potential damages you might cause.
What is a security deposit?
A short-term gig you do purely to earn quick cash, compared to a long-term professional journey built around your life goals and education.
What is a job vs. career?
A bank account that usually pays a higher interest rate than standard checking but requires you to maintain a larger minimum balance.
What is a money market account?
What your current savings will be worth down the road after it sits in an account and accumulates interest over time.
What is future value?
The acronym "ARM" stands for this type of home loan where your interest rate and monthly payments can change over time.
What is an adjustable rate mortgage?
The serious crime of someone illegally stealing your personal data, like a Social Security number, to spend your money or open accounts.
What is identity theft?
The current price that a home or property could realistically be sold for right now on the open market.
What is market value?
A safe savings option where you agree to leave your cash locked away entirely untouched for a fixed length of time in exchange for a much higher interest payout.
What is a certificate of deposit (CD)?
A financial product that provides a series of guaranteed, regular payments made to a person at fixed intervals, typically used during retirement.
What is an annuity?
The catch-all term for the extra legal and administrative fees—such as title searches and loan processing fees—paid at the very end of buying a house.
What are closing costs?
An investment where you essentially lend money to a government or corporation, and they promise to pay you back with interest by a set date.
What is a bond?