Earning
The type of work a person pursues for the majority of their life that may involve formal education, special training, or be within a specific industry.
Career
A plan that outlines what money you expect to earn or receive (your income) and how you will save it or spend it (your expenses) for a given period of time.
Budget
A financial institution and business that accepts deposits, makes loans, and handles other financial transactions.
Bank
The coast of borrowing money on a yearly basis, expressed as a percentage rate.
Annual Percentage Rate (APR)
When someone steals another person's identity to commit fraud, such as by using his or her name or SS number.
Identity Theft
Money that you receive from jobs, allowances, gifts, interest, dividends, and other sources.
Income
Something you must have to survive, such as clothes, shelter, or food.
Need
Money that a bank or other financial institution pays you for keeping money on deposit with them, or the amount of money you pay a bank as a fee when you borrow money.
Interest
The ability to borrow money and pay it back later.
Credit
When fraudsters impersonate a business or government agency to try to get you to give them personal information, such as through an email or text message.
Phishing
Taxes on income, both earned and unearned.
Income Tax
Something that you would like to have but that you could live without, such as a TV or tickets to a baseball game.
Want
To put money at risk to make a profit in the future.
Invest
A plastic card that can be used to obtain credit (such as to purchase goods and services).
Credit Card
Scammers use phone calls to trick you into revealing personal information.
Vishing
Money that has to be paid to a government to provide public goods and services.
Tax
The cost of giving up one thing to do or buy another.
Opportunity cost
Money made (profit) from an investment.
Return
An amount of money taken out of a deposit account to pay for something.
Debit
Scammers use text messages to trick you into revealing personal information.
Smishing
Money that an employer withholds from earnings.
Payroll Deduction
The movement of incoming funds (income) and outgoing funds (expenses) over a given period of time.
Cash Flow
The degree of uncertainty about the rate of return and the potential harm that could arise when financial returns are not what the investor expected.
Risk
A plastic card that can be used to deposit or withdraw cash from a checking or other bank deposit account, such as an ATM or at retail locations that accept cards.
Debit Card
The process of calculating risk and choosing approaches to minimize or manage loss.
Risk Management