terms ending in t
placing money into the care of a bank or financial institution
what is deposit?
a wage set by contract or by law as the lowest that may be paid to employees
what is minimum wage?
generally operates as a substitute for cash or a check and most often provides an unsecured revolving line of credit
what is credit card?
money given in the form of grants,work-study,loans,and scholarships to help pay for post-secondary tuition and fees,as well as related expenses such as room and board,books,supplies,and transportation
what is financial aid?
compensation paid to employees in exchange for their time and labor
what is wages?
the cash that the buyer pays upfront in a real estate transaction and other large purchases
what is down payment?
wages withheld from employee's total earnings for the purpose of paying taxes,garnishments,and benefits,like health insurance
what is payroll deductions?
a prediction based off your credit behavior, such as how likely you are to pay back a loan on time, based on information from your credit reports
what is credit score?
when money is given to another party in exchange for repayment of the loan principal amount plus interest
what is loan?
the money that you originally agreed to pay back
what is principal?
the maximum amount of money a lender will allow you to spend on a credit card or line of credit
what is credit limit?
expenses that change in amount from month to month
what is variable expenses?
a financial liability or obligation owed by one person, the debtor, to another, the creditor
what is debt?
removing funds from a bank account,savings plan,pension,or trust
what is withdrawal?
a federal program that provides part-time jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay education expenses
what is work-study program?
the ability to borrow money with the promise that you'll repay it in the future,often with interest
what is credit?
all of the money you earned before taxes and other deductions are subracted
What is gross income?
the monetary charge for borrowing, or depositing money and is usually expressed as a percentage of the amount borrowed, or deposited; a charge that borrowers pay lenders for a loan
what is interest?
a payment card that deducts money directly from a consumers checking account when it is used
what is Debit Card?
the legal proceeding initiated when a person or business is unable to repay outstanding debts or obligations
what is bankruptcy?
using your personal information such as your name, social security number,or credit card number, without your permission
what is identity left?
a separate savings account used to cover or offset the expense of an unforeseen situation
What is Emergency Fund?
the action or process of reducing or paying off a debt with regular payments
what is ammortization?
The money that a person or entity receives in exchange for their labor or products;the amount of money property,and other items of value received over a set period of time in exchange for services or products
What is Income?
an item of value that a lender can seize from a borrower if they fail to repay a loan according to agreed terms
what is collateral?