Business
Business Plan
A detailed plan including the strategies planned to achieve the profit goals.
Market
A group of consumers or shoppers that share common wants and needs.
Expenses
Amounts of money spent to buy goods and services for yourself or your business.
Insurance
A guarantee or promise that your money is going to be safe.
Interest
A fee charged for borrowing money.
Tenacity
The quality of being stubborn or persevering.
Market Research
The study of the most-likely consumers for a particular product.
Budget
A financial plan to balance spending and saving.
Credit Union
A non-profit banking organization where individuals and small businesses can make deposits, take loans, and open checking and savings accounts. The members of the credit union own and control the business. You must qualify to be a member.
Investment strategy
A plan for putting money to use in a way that has the potential for it to grow in value.
Focus
When your attention is concentrated on one specific issue, idea, problem, or goal.
Goods
Things that you can buy or sell that you can touch or see.
Compound Interest
Interest that is paid on interest that you have already earned.
Opportunity
A situation, condition, chance or prospect for advancement, success, or to attain a goal.
Reinvest
To take money you have earned from your business and put it back into your business to make it grow.
Assets
Things that you own which have significant monetary value, which can be used to help you make more money.
Service
Meeting a need with words or actions instead of tangible products.
Frugal
To be careful with money, thrifty, a penny pincher.
Resources
Money or property that can be converted to money.
Savings Account
An account that is used for saving money and not spending it. These accounts usually earn interest on the money that is deposited in them.
Stock
Shares representing ownership of part of a company.
Need
Something that absolutely essential.
Deposit
To place for safe keeping, especially in a bank.
Private Bank
A for profit bank where individuals can make deposits, take loans, and open checking and savings accounts.
Checking Account