Income and taxes
Audit
review of financial records and statements to make sure the information is accurate as reported
Bank Statement
Record of checks, ATM transactions, deposits, and charges on an account
Emergency Fund
Ability for an individual to meet essential needs without taking on more debt that can be repaid
Appreciation
Increase in the value of an investment
Caveat Emptor
Latin Phrase that means let the buyer beware
Bonus
money added to an employee's base pay
Check
Written order for the bank to pay a specific amount to the person to whom the check is written
Money Market account
Type of saving account that typically pays a higher interest rate than regular savings accounts
Inflation
Overall rise in prices
Class Action Lawsuit
Legal court action brought by a group of individuals who have been similarly wronged
Capital Gain
Income that results from selling an asset for more than the purchase price
Checking Account
Bank account that allows the owner to make deposits, write checks and withdraw money
Simple Interest
Interest earned only on the principal
Bond
Certificate of debt issued by a corporation of government
Consumer Protection Laws
Laws that govern sales and credit pracitces involving consumer goods and servives
Earned Income
Income received from employment, including self-employment
Credit Card
Card that allows the holder to make credit purchases up to an authorized amount
Saving Plan
Strategy for using money to reach important goals and to advance a person's financial security
Bear Market
Extending period of falling stock prices, which comes with uncertainty and pessimism
pyramid scheme
Fraudulent investment plans
Discretionary Expenditure
Expense item that can be adjusted according to needs and revenues
Electronic funds transfer (EFT)
Movement of money over an online network from one financial institution to another
Payroll Savings Plan (PSP)
Program in which and employee authorizes the employer to make regular deductions from each paycheck to automatically deposit in a designated savings plan
Net Asset Value (NAV)
Total of the fund's assets minus its liabilities divided by the number of the shares the funds has outstanding
Chain Letter
Letters, e-mails, or social media posts that solicit money or gifts from others on an ever-growing list in the hopes that the sender will receive more gifts or money in return