Credit
the maximum amount of money a lender will allow you to spend on a credit card or a line of credit.
what isCredit limit
a card like a credit card but by which money is withdrawn from the holder's bank account immediately at the time of a transaction
what is debit card
a retirement savings plan offered by many American employers that has tax advantages for the saver
what is 401k
all the money you earn before taxes and other deductions are subtracted.
what is gross income
the action or process of reducing or paying off a debt with regular payments
what is Amortization
a prediction of your credit behavior, such as how likely you are to pay a loan back on time, based on information from your credit reports.
what is Credit Score
Money that someone owes to someone or something else.
what is Debt
money that you keep aside for unexpected expenses or if you lose your job
what is an Emergency fund
when an employer deducts money from an employee's paycheck
what are payroll deductions
The yearly interest rate you'll pay if you carry a balance on your credit card
what is Annual Percentage Rate
ability of an individual or organization to obtain goods or services before payment, based on an agreement to pay later
what is credit
when you put money IN to your bank account
what is a Deposit
a spending plan based on income and expenses
what is a Budget
the maximum amount of money a lender will allow you to spend on a credit card or a line of credit.
what is credit limit
the value of a financial asset increases over time
what is Appreciation
line of credit that can be used to borrow money to make purchases, transfer balances and get cash advances
what is a credit card
when the value of something goes down over time
what is depreciation
when you put money IN to your bank account
what is a Deposit
The yearly interest rate you'll pay if you carry a balance on your credit card
what is Annual Percentage Rate
anything that has current or future economic value to a business
what is an asset
people mainly buy electronics, appliances, travel, event tickets, or online purchases with this
what is a credit card
a part of the full price paid at the time of purchase or delivery with the remainder to be paid later.
what is down payment
used by the federal government to determine a family's eligibility for grants, work-study, and loans to pay for college
what is FAFSA
a card like a credit card but by which money is withdrawn from the holder's bank account immediately at the time of a transaction
what is a Debit Card
an electronic machine used for financial transactions
what is an ATM