Find The Definition
What is a 401(k)?
A retirement savings plan that lets you invest a portion of each paycheck before taxes are deducted depending on the type of contributions made.
The concept that money available now is worth more than the same amount in the future due to its potential earning capacity. What is this term?
Time Value of Money
Supply is how much of something is available; demand is how much people want it. Prices go up or down based on this relationship. What is this term?
Supply & Demand
What are stocks?
A type of security that gives stockholders a share of ownership in a company.
A tax-advantage investment account designed to help you save toward retirement. What is this term?
IRA
What is comparison shopping?
Looking at different prices, products, or deals before making a purchase to get the best value.
What is a deductible?
The amount you pay out of pocket before the insurance company pays a claim.
The person designated to receive benefits from an insurance policy or will. What is this term?
Beneficiary
Making a purchase without planning or thinking it through often based on emotion or urgency. What is this term?
Impulse buying
What is compound interest?
Interest calculated on the initial principal, which also includes all accumulated interest from previous periods.
The amount paid for an insurance policy. What is this term?
Premium
What is a W-2 form?
A yearly summary of how much you earned and how much is taken out in taxes.
What is risk management?
Strategies to handle exposure to risk, such as acceptance, transfer, or reduction.
You lend money, earn interest, and get your money back later. What is this term?
A bond
Money earned based on a percentage of sales made. What is this term?
Commission