A
When people get paid a certain amount of money for each hour they work.
Wage
When you earn a certain amount of money, no matter the hours of work
salary
This is used to authenticate your identity for electronic transactions
PIN
an obligation to repay an amount you owe
debt
Money borrowed that is expected to be paid back with interest
Loan
A type of loan specifically for real estate
Mortgage
a number, calculated based on information in your credit report, that lenders use to assess the credit risk you pose and the interest rate they will offer you if they agree to lend you money.
Credit Score
The difference between your total assets and total liabilities
Net Worth
The use of money with the aim of making future profit
Investment
A fixed charge for borrowing money; usually a percentage of the amount borrowed
Interest
A legal process for individual or businesses that are unable to repay outstanding debts
Bankruptcy
The amount of income left after taxes and deductions have been taken out
Net Income
The total income before any dedication or taxes
Gross Income
anything of value or a resource of value that can be converted into cash
a bank account that allows easy access to your funds for daily transactions
a card for deferring payment; is issued by a bank or business allowing a person to purchase goods and services and pay for them later (with interest).
Credit Card
Mandatory financial charges or some other type of levy imposed upon a taxpayer by a governmental organization.
Taxes
Financial aid provided by the government, schools, or private organizations that doesn’t need to be repaid. Often based on financial need.
Grants
A retirement savings plan sponsored by an employer. It lets workers save and invest a piece of their paycheck before taxes are taken out.
401 K
A form completed by current and prospective college students in the U.S. to determine their eligibility for student financial aid.
FAFSA
The large set of inter-related production, consumption, and exchange activities that aid in determining how scarce resources are allocated.
Economy
A crime where someone wrongfully obtains and uses another person's personal data in some way that involves fraud or deception, typically for economic gain.
Identify Theft
W-4 Form
A form used by employers to determine the amount of taxes to withhold from an employee's paycheck
Federal student loans that accrue interest as soon as the loan is taken out, regardless of whether the student is in school.
Unsubsidized Loans
529 Plan