Budgeting and Saving
Setting aside a portion of your income for future needs
Saving
Obtain goods or services before payment, based on the trust that payment will be made in the future
Credit
Money is deposited automatically into your account
Direct deposit
Amount of money you owe on a loan, not counting interest
Principal
Central bank's temporary hold on interest rate hikes
Hawkish Pause
Payments for goods and service
Expenses
Money borrowed that must be paid back with interest
Debt
A transaction has been successfully credited or debited to your account
Clear
The amount of time the borrower is granted to repay the loan
Loan term
Small Company Stock
Ankle biter
Money set aside in savings to handle unexpected financial hardships
Emergency fund
Initial cash payment made when you buy something on credit
Down Payment
A transfer of money between accounts in the same bank
Internal transfer
The % of principal the lender charges for using its money
Interest Rate
Splitting large sums into smaller deposits to avoid reporting
Smurf
Your total income before taxes
Gross income
Interest calculated on the initial principle plus all previously accumulated interest
Compound interst
Notification if your account falls below a specified amount
Low balance alerts
A person who is designated to receive distributions when you die.
Beneficiary
Recession in which the rich feel the pinch more
Richcession
A plan for your income and expenses to help you track where your money goes
Budget
A specific amount of money provided to a borrower with an agreement that it will be repaid
Loan
Electronic payments directly from you bank account
Electronic debits
someone who has the power to act on behalf of another person's legal matters
Power of Attorney
investor's anxiety about a potential crash leads to selling
Wall of Fear