a financial liability or obligation owed by one person, the debtor, to another, the creditor
debt
something necessary for survival or basic functioning
Need
compensation paid to employees in exchange for their time and labor
wages
an expense in your budget that you can expect to stay the same, or close to it, over time
Fixed expenses
A specialized computer that allows you to complete bank transactions without the need to see a bank representative
ATM
the maximum amount of money a lender will allow you to spend on a credit card or a line of credit.
credit limit
things that are nice to have but are not absolutely necessary.
wants
mandatory contributions levied on individuals or corporations by a government entity
taxes
expenses that change in amount from month to month
variable expenses
placing money into the care of a bank or other financial institution
Deposit
a prediction of your credit behavior, such as how likely you are to pay back a loan on time, based on information from your credit reports.
credit score
a sum of money that one or more individuals or companies borrow from a bank or other financial institution
Loan
the monetary charge for borrowing, or depositing money and is usually expressed as a percentage of the amount borrowed, or deposited; a charge that borrowers pay lenders for a loan.
interest
a wage set by contract or by law as the lowest that may be paid to employees
minimum wage
an estimate of income and expenditure for a set period of time
budget
a payment card that deducts money directly from a consumer's checking account when it is used.
debit card
equity ownership in a corporation or financial asset, owned by investors who exchange capital in return for these units
Share
an agreement between you and a lender that gives the lender the right to take your property if you fail to repay the money you've borrowed plus interest
mortgage
all the money you earn before taxes and other deductions are subtracted
Gross income
an asset or item acquired with the goal of generating income or appreciation
investment
generally operates as a substitute for cash or a check, allowing one to buy now and pay back later with interest
credit card
stock
the money that a person or entity receives in exchange for their labor or products; the amount of money, property, and other item of value received over a set period of time in exchange for services or products
income
using your personal information - such as your name, social security number, or credit card number - without your permission
Identity theft
removing funds from a bank account, savings plan, pension, or trust.
withdrawl