unit 1
Budget
Something you should do every month to keep track of your money.
Gross earnings
After tax money
Bankruptcy
A legal declaration when you are unable to pay your debt.
Checking Account
An account held at a bank or CU that you can draw funds out of by either withdrawal or check.
Credit
The granting of money or something else of value in exchange for a promise of future payment.
Personal Finance
The study of money for an individual.
APR
Annual percentage rate
Bank
Businesses that accept deposits and make loans.
Compound Interest
Your investment earning money by accruing money.
Credit Report
Payment history of debt by a credit bureau.
Landlord
Person who owns the home you are renting from.
Asset
An economic value of something you own
Benefits
Things offered by your employer or favorable for you.
Consumers
People who buy goods and services.
Credit Card
Cards that represent an agreement between a lender and the cardholder.
Accounts
Your bank houses these.
Bank Statement
A form given to account holders from a bank or CU.
Check
A printed form telling your bank to pay another person or account.
Contract
A promise between two parties that is enforceable by law.
Credit Score
A number based on information in a credit report.
Debit Card
A card that withdrawals money directly from your checking account.
Debt
Money owed that was exchanged for goods or services.
Direct Deposit
A transaction where money is deposited directly into your bank.
Down Payment
A sum of money put towards the purchase of something.
Expenses
Costs incurred for goods and services.