Saving
Compound interest
Money that builds on its own.
Budget
A planned way of spending your money to save
annual fee
fee that you must pay in order to have a credit card
FAFSA
Free Application for Federal Student Aid
Significant purchase
Amount of money you spend, $300 or more usually.
emergency fund
putting money away for an emergency
Avoiding budgets?
People are afraid to see what they might find.
Credit report
report of ones credit history
Grant
money given by the feds and not expected to pay back.
Branding
Promotion of a product or service for money
Ben and Arthur
used compound interest to blow Arthur out of the park.
Overdraft
money is withdrawn making it go to zero
loan term
time frame a loan agreement is in force
scholarships
money awarded for achievements in school sports etc.
Buyers remorse
regretting buying something after you have it
Debt
isn't good and doesn't solve anything
Reconcile
comparing checking and bank sheets
Debt snowball
paying off debts one at a time until they are all gone and snowball onto eachother
Good debt
a false term by which some people refer to student loans as.
Marketing
Communicating value of product or servive to consumers
Wealth Building
building up your cash over time so you can be rich
envelope system
using envelopes to sort money for where is is going to go.
credit card
card made by banks that allow you to finance purchases
Work-study
allows students to work part-time and work on their studies.
Opportunity cost
Financial oppurtunity that is given up because you found something better to do with your money.