Terms
Any resource that holds value
Asset
Fixed and Variable
A financial institution that accepts deposits from the public
A Bank
Federal, state or privately-issued debt to cover education costs
Student Loan
The amount the college/university is charging you for your classes
Tuition
A plan for how to save and spend money
Budget
What are the two types of revenue?
Operating and Non-Operating
The knowledge and application of various financial skills
Financial Literacy
Finance a new or used car with the help of a lender or dealership
Auto Loan
Something students fill out to receive financial aid for college
Yearly interest rate charged on borrowed money
Annual Percentage Rate
To spend money with the expectation that it will make you more money in the future
Investing
A bank card that automatically deducts the amount of a purchase from your checking account
Debit Card
A specific type of loan that is used to buy real estate (a home or other property)
Mortgage
A grant or payment made to support a student's education
Scholarship
Amount of money due on a loan before interest
Principal
Revenue - Expenses = ?
Profit
A system for buying and selling shares of a company
Stock Market
Like a short-term cash advance, payday loan involves borrowing against your paycheck instead of the plastic in your wallet
Payday Loan
A non-repayable federal subsidy awarded to students for post-secondary education, based on financial need
Pell-Grant
Credit
The amount of money you get to keep after your expenses are paid off
Savings
The maximum amount of credit a financial institution extends to a client on a credit card
Credit Limit
Combine multiple debt accounts, ideally with a lower interest rate
Debt Consolidation Loan
A program that allows students to earn money while working in campus to help pay educational expenses
Work-Study