BASICS
Money you earn from working
income/wages
savings tool or account that allows easy access to funds
Checking
stock
money that goes to the government to pay for things like roads, schools, and military
taxes
a payment type that creates a loan
credit card purchase
Money you spend on things you need or want
Expenses
The bank account used for storing money and gains interest over time
Savings
a loan to a company or government
Bond
the money received before taxes and deductions
a numeric value that represents how you pay your bills
credit score
The cost of borrowing money. Extra money you pay for borrowing.
interest
Money that you borrow and have to pay back with interest
loan
buying different assets or putting your money into different stocks or securities
diversification
Take home pay
Net pay
The credit score range
300-850
Money you owe
Debt
Electronic transfer of a payment
Direct Deposit
where your investments are held
portfolio
an expense that lowers your tax bill
deductions
#1 way to increase your credit score
pay bills on time
Financial security and peace of mind when an unfortunate event occurs
insurance
Occurs when there are not enough funds in the bank account
overdraft
a group of different investments that people put their money into together
mutual fund
The statement that has all the money earned and taxes paid for the year
w2
how to get credit when you do not have any
get a secure card