Credit & Debit
This three-digit number typically ranges from 300–850 and affects loan approval.
What is a credit score?
Breaking a lease early may require paying this financial penalty.
What is an early termination fee?
This is the amount you pay monthly to maintain insurance coverage.
What is a premium?
This form shows your annual wages and tax withholdings.
What is a W-2?
This represents partial ownership in a company.
What is a stock?
This ratio compares your monthly debt payments to your gross monthly income.
What is debt-to-income ratio (DTI)?
This document outlines rules, rent amount, and length of tenancy.
What is a lease agreement?
This is the amount you must pay out-of-pocket before insurance starts covering costs.
What is a deductible?
This type of worker receives a 1099 instead of a W-2.
What is an independent contractor?
This investment pools money from multiple investors to buy diversified assets.
What is a mutual fund?
This happens when you fail to repay a loan according to agreed terms.
What is default?
Landlords must typically return this within a certain number of days after move-out.
What is a security deposit?
Seeing a doctor outside your plan’s network usually results in this.
What are higher costs / out-of-network charges?
This tax is withheld to fund retirement benefits for older Americans.
What is Social Security tax?
This investment is considered lower risk and pays fixed interest.
What is a bond?
Carrying a balance past your statement due date causes this to accrue.
What is interest?
This clause allows a landlord to enter the property with prior notice.
What is a right of entry clause?
This employer-sponsored retirement account often includes matching contributions.
What is a 401(k)?
Claiming more allowances on your W-4 generally does this to your paycheck.
What is increase take-home pay (but reduce refunds)?
This term refers to spreading investments to reduce risk.
What is diversification?
Making payments on time, keeping balances low, and maintaining long-term accounts improves this.
What is your credit history / credit profile?
Renters can protect their belongings with this relatively inexpensive policy.
What is renters insurance?
This account allows you to set aside pre-tax money for medical expenses.
What is an HSA (Health Savings Account)?
Failing to file or pay taxes on time can result in these two consequences.
What are penalties and interest?
This powerful concept refers to earning returns on your previous returns.
What is compound interest?