Jobs & Careers
A long-term series of connected employment opportunities where you can grow, get promotions, and build skills over time
What is a career?
The extra money a bank pays you for keeping your money there, or the extra fee you pay a bank for borrowing their money
What is interest?
Earned interest that gets added to your original deposit, meaning you start earning interest on your interest, making your money grow way faster over time
What is compounding interest?
Property consisting of actual land and the buildings or houses sitting on it.
What is real estate?
A specific type of long-term bank loan used exclusively to buy a house or real estate property.
What is a mortgage?
Work you do mainly just to earn money to pay your bills right now, without much focus on long-term growth
What is a Job?
A plastic card that lets you pay for things by pulling money instantly and directly out of your checking account
What is a debit card?
What your current money will be worth down the road in the future after it sits and earns interest over time
What is future value?
A legal contract you sign when you rent an apartment or house, stating the rules and how much you have to pay each month
What is a lease?
The total cost of borrowing money for a loan expressed as a yearly percentage rate, which includes both interest and extra fees.
What is the Annual Percentage Rate (APR)?
A professional one-page document that lists your education, work history, and skills to show employers why they should hire you
What is a resume
Managing your money through the internet or apps instead of walking into a physical bank building.
What is electronic banking?
A steady stream of equal payments made at regular times over a set period, often used for retirement
What is an annuity?
Money you pay a landlord before moving into a rental to cover any damages you might cause while living there. You get it back if you leave the place clean
What is a security deposit?
Extra fees paid to lenders at the very end of a real estate transaction when the property ownership is officially transferred.
What are closing costs?
A formal letter sent along with your resume to introduce yourself and explain exactly why you are a great fit for a specific position
What is a cover letter?
A type of savings account where you agree to leave your money locked away for a fixed amount of time in exchange for a higher interest rate.
What is a certificate of deposit (CD)?
A certificate showing you loaned money to a company or the government, and they promise to pay you back later with regular interest.
What is a bond?
The current amount of money a home or property would actually sell for on the open market right now.
What is market value?
A home loan where the interest rate can change or go up and down over time based on the economy, causing monthly payments to change too.
What is an adjustable rate mortgage (ARM)?
Your natural talents, strengths, or abilities that make it easier for you to learn certain skills or do specific tasks.
What is a aptitude?
A type of bank account that usually pays higher interest than a regular savings account but requires you to keep a high minimum balance and limits how often you can withdraw cash
What is a money market account?
Items you own that can be quickly and easily turned into cash without losing their value, like money in a regular checking account
What are liquid assets?
The level of wealth, comfort, material goods, and necessities that are available to a person or a specific group of people
What is standard of living?
Optional prepaid fees you can pay upfront to a lender when getting a mortgage to lower your permanent interest rate. One of these usually equals 1% of the loan.
What are points?