savings and budget
What is the 50/30/20 rule?
money regularly set aside for future expenses
what is the avalanche strategy
money you borrow and must return with interest
what is deposit insurance
place where you safely wait for your money
what is diversification
buy a part of a company on the financial market
what is a recession
relationship between what people want to buy and what is available
what is savings
document that organizes income and expenses
what is a loan
card that allows you to spend money borrowed from the bank
what is a bank
account used for daily expenses and frequent payments
what is an action
debt document issued by a government or company
what is supply and demand
cash and coins in circulation
what is a budget
portion of income that is recommended to be saved as a minimum (in%)
what is a credit card
number that reflects debt payment behavior
what is a checking account
type of account that earns interest on your money
what is a bonus
instrument that pools money from many investors to invest in various assets
what is currency
sustained increase in prices in the economy
which is 10%
fund intended to cover unforeseen expenses
what is a credit score
additional amount you pay to borrow money
what is a savings account
system that allows you to transfer money from one bank to another
what is an investment fund
risk that your money will lose value due to general price increases
what is inflation
Gross domestic product measures the total production of a country.
what is an emergency fund
rule that divides income into 50% needs, 30% wants, 20% savings
what are interests
strategy that consists of paying off the borrowed debt first
what is a bank transfer
The organization that protects your money in the event of a bank failure (in the US, it's the FDIC)
what is inflation
principle that says don't put all your eggs in one basket
what is GDP
economic situation with high unemployment and low production