Basic Accounting
Value of all assets, minus the total of all liabilities
Net Worth
An account at a bank that allows you to make deposits, pay bills, write checks and make withdrawals.
Checking Account
A fee charged by a lender, and paid by a borrower, for the use of money.
Interest
____ skills are related to specific technical knowledge and training while ____ skills are personality traits such as leadership or communication
Hard/soft
Debts someone owes
Liabilities
An expense that can be subtracted from one’s income to lower taxable wealth
Deduction
The signing of a check for security purposes.
Endorsement
An amount of money that is borrowed, often from a bank, and has to be paid back, usually.Money that needs to be repaid by the borrower, generally with interest
Loan
What is the form used to apply for federal student loans?
FAFSA
The amount of money that you originally received from the lender and agreed to pay back on the loan with interest.
Principal
An individual’s total earnings before taxes
Gross income
Charges from a bank when more money than account holds is withdrawn.
Overdraft Fees
Explain what a secured loan is.
A loan that is backed by some type of valuable asset as collateral.
What information comes first at the top of a resume?
Your name
The length of time a loan is to be repaid over.
Term
Investments that are not taxed until money is withdrawn
Tax deferred
A not-for-profit bank that is member owned.
Credit union
What does APR stand for?
Annual Percentage Rate
What is the 23-24 tuition at Harvard (within 2000)?
$54,269
Initial cash payment made when something is bought on credit, such as a home or vehicle.
Down payment
The name of the family mentioned in The Automatic Millionaire.
The McIntyres
Type of savings account with slightly higher interest rates that money must be left in for a fixed period of time.
Certificate of Deposit
Explain what revolving credit is.
lines of credit that can be borrowed from and paid back repeatedly, such as a credit card.
Explain what niche job boards are.
smaller and post openings for a specific group or population.
___________interest is when you earn interest on the money you've saved and on the interest you earn along the way
Compound