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The idea that peoples wants and need exceed what is available
People always want more than what they have
A limited amount of something |
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| What you give up for something else |
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| earns interest and offers quick access to funds |
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| High Yield Savings Account |
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Definition
| Rewards you with a higher interest rate, allowing your money to grow even faster as it sits in your account. |
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Definition
| It stands for annual percentage yield. Banks are required to prominently display this rate and gives you the most accurate idea of what your money can earn in a year. |
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| Individual retirement account under United States law that is generally not taxed upon distribution. |
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| How do you calculate interest? |
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| Credit Card "Grace Period" |
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Definition
| the gap between the end of your credit card's billing cycle and when the payment is due. |
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Definition
*Build credit
*Ability to buy items upfront
*Rewards associated with the card such as cash back, travel miles etc. |
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Definition
*High interest rates
*Debt
*Bad credit score |
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| What percentage of you available credit should you use to keep your credit score high? |
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| Tips for investing in your 20's |
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Definition
1. Start early
2. Don't keep up with the Joneses
3. Money should be used as a tool
4. Consider investing as a financial plan
5. Invest in yourself
6. Ramp up savings/investments as you age |
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Term
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Definition
A legal agreement by which a bank or other creditor lends money to a person who will pay it back with interest. Mortgages are usually either 15 or 30 years in length.
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