MONEY
The total amount you earn before any deductions are subtracted
Gross Pay
An IOU issued by a corporation or government that confirms you are lending the corporation or government money.
Bond
The money borrowed which must be repaid with interest
Principle
A nonprofit financial institution that is owned by its members and organized for their benefit.
Credit Union
First rule of budgeting -- PYF
Pay Yourself First
Tax levied on both employers and employees to pay for Social Security and medicare
FICA
A diversified investment vehicle that is made up of a pool of funds collected from many investors and invested in stocks, bonds, money markets and securities.
Mutual Funds
Character (credit history), Capacity (ability to repay), Capital (assets), Collateral (property), Conditions (stability), Credit History (good/bad)
6 C's of Credit
Interest added to principal – interest earned on interest
Compound Interest
The primary sources of income for most people between the ages of 20 and 35 who are not living on a pension or social security.
Salary or wages
The background color of a U.S. $5.00 bill.
Green
The earnings given to the people who are shareholders of the company stock
Dividends
Something of value that a borrower lets the lender claim if a loan is not repaid
Collateral
Making sure your check register matches your bank statement.
Reconcile
Something you are working to achieve within a defined period of time is a(an)...
Goal
Government department that collects taxes, prints money, issues treasury bonds.
Department of Treasury
A quick way to figure out how long it will take to double your money at a given return rate.
Rule of 72
Is the total dollar amount you pay to use credit.
Finance Charge
A check issued by a bank to you for personal payments to people who won't accept a personal check.
Cashiers Check
Money remaining after all expenses deducted from all income
Discretionary Income
A general increase in prices
Inflation
The average price of 30 selected industrial stocks, used as a measure of general market trends
Dow Jones
Credit legislation that is federal they have to tell you the truth about their lending. Have to tell the whole truth in lending practices.
Truth in Lending Act
A small, secure storage compartment that you can rent in a bank, usually for $100 a year or less.
Safe Deposit Box
Concept that money received today is worth more than the same amount of money received in the future
Time Value of Money