Personal Finance & saving
A person or organization that uses a product or service
Consumer
A copy of each check you write
Carbon copy
A type of card issued by a bank that allows users to finance a purchase
Credit card
How often do you have to file FAFSA
Latin term for buyer's remorse
Caveat emptor
Economy
NFS
non sufficient funds
A decrease or loss in value
Depreciation
A form of financial aid given to students who demonstrate financial need; doesn't need to be repaid
Grant
Financing
A fee paid by a borrower to the lender for the use of borrowed money
Interest
Occurs when money is withdrawn from a bank account and the available balance goes below zero
Overdraft
A measure of an individual's credit risk
Credit score
Money awarded for academic or athletic achievements; doesn't need to be repaid
Scholarship
A purchase over $300
A debt evidenced by a note which specifies the principal amount, interest rate, and date of repayment
Loan
An item that is bought without previous planning or consideration of the long-term effects
impulse purchase
Time frame that a loan agreement is in force, and before or at the end of which the loan should either be repaid or renegotiated for another term
Loan term
A program that allows students to work part time while continuing their studies
Work study
Brand recognition
How much should you have in an emergency fund
$500
To match your bank statement with your checkbook
Reconcile
Preferred method of debt repayment; paying off smallest to largest debt
Debt snowball
A form that is completed annually by current and prospective college students to determine their eligibility for financial aid.
FAFSA
Feeling regret or concern after making a large purchase
Buyer's remorse