terms ending in t
Placing money into the care of a bank or financial institution
What is deposit?
A wage set by contract or by law as the lowest that may be paid to employees
What is minimum wage?
The maximum money a lender will allow you to spend on a credit card or a line of credit
What is credit limit?
money given in the form of grants,work-study,loans,and scholarships to help pay for post-secondary tuition and fees,as well as related expenses such as room and board,books,supplies,and transportation
what is financial aid?
a legal proceeding initiated when when a person or business is unable to repay outstanding debts or obligations
what is bankruptcy?
The monetary charges charge for borrowing , or deposited;a charge that borrowers pay lenders for a loan
What is interest?
Wages withheld from employee's total earnings for the purpose of paying taxes,garnishments,and benefits,like health insurance
What is payroll deductions?
Generally operates as a substitute for cash or a check and most often provides an unsecured revolving line of credit
What is Credit Card?
when money is given to another party in exchange for repayment of the loan principal amount plus interest
what is loan?
an item of value that a lender can seize from a borrower if they fail to repay a loan according to agreed terms
what is collateral?
An asset or item acquired with the goal of generating income or appreciation
What is investment?
Expenses that change in amount from month to month
What is variable expenses?
the action or process of reducing or paying off debt
what is amortization?
removing funds from a bank account,savings plan,pension,or trust
what is withdrawal?
compensation paid to employees in exchange for their time and labor
what is wages?
The ability to borrow money with the promise that you'll repay it in the future,often with interest
What is credit?
All the money you earn before taxes and other deductions are subtracted
What is gross income?
a prediction of your credit behavior,such a show likely you are to pay back a loan on time,based on information from your credit reports
what is credit score?
a payment card that deducts money directly from a consumers checking account when it is used
what is Debit Card?
the money that you originally agreed to pay back
what is principal?
Using your personal information such as your name, social security number,or credit card number, without your permission
What is identity theft?
A separate savings account used to cover or offset the expense of an unforeseen situation
What is Emergency Fund?
the cash that the buyer pays up front in a real estate transaction and other large purchases
what is down payment?
The money that a person or entity receives in exchange for their labor or products;the amount of money property,and other items of value received over a set period of time in exchange for services or products
What is Income?
a federal program that provides part time jobs for undergraduate and graduate students with financial need,allowing them to earn money to help pay education expenses
what is work-study program?