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| a tax deferred arrangement for individuals with earned income and their non-income producting spouses, growth is not taxed until money is withdrawn, contributions are tax deductible |
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| to spread around one's investment dollars into different types of financial assets |
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| lacking morals, neither good or bad |
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| three to six months of expenses in readily available cash to use only in the event of an emergency |
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| money that is working for you either tax deferered or tax free within a retirement plan |
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| a pool of money managed by an investment company and invested in multiple companies, bonds, etc. |
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| interest paid on interest perviously earned; can be credited daily, monthly, quarterly, semi-annually |
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| pays for damange to your car that is not a result of an accident |
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| a quick way to calculate the length of time it will take to double your money. |
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| the amount of money one has available after taxes have been taken out of their pay. |
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| a plan of action that allows a person to meet not only the immediate needs but also their long-term goals |
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| amount of money left over after all necessities and expenses are paid |
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| breakdown showing how much of each regular payment will be applied toward principal and interest over the life of the loan |
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| anything that is owned by an individual examples are cash and investments |
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| the legal document conveying title to a property |
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| an interest rate that does not change over time |
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| portion of auto insurance that covers losses due to vehicle damage in an accident |
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| saving money for a specific purpose to allow interest to work for you rather than against you |
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| policy that protects an individual in the event of a lawsuit due to injury on one's personal property or as the result of a car accident |
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| to buy an item with credit; paying over time |
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| type of insurance designed to replace income lost due to death |
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| account set up to maintain daily financial activities usually with a bank. Allows you to withdraw money, pay individuals, and make deposits |
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| in regards to health insurance, paying a set amount per medical visit |
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| a report showing your payment history |
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| cost of borrowing money on an annual basis |
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| type of insurance that provides coverage for accidents, damages, and losses in a rental apartment or house or dorm. |
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| a tool used to finance a purchase |
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| the act of combining all debts into one monthly payment |
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| loan secured by the collateral of some type of real estate property |
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| amount you pay monthly, quarterly, semiannually or annually to purchase different types of insurance |
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| the true cost of something in terms of what you have to give up to get the item. The benefits you would have received by taking the other action. |
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| a fee charged by a credit card company for the use of their credit card |
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| the seven steps to a healthy financial plan |
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Definition
| court-ordered attachment that allows a lender to take monies owed directly from a borrower's paycheck |
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Definition
| cash flow plan, assigns every dollar to a specific category |
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Definition
| contribution plan offered by a corporation to its employees, employees set aside tax-deferred income for retirement |
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Term
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Definition
| retirement account funded with after-tax dollars that subsequently grows tax free |
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Definition
| amount you have to pay out-of-pocket for expenses before the insurance company will begin to pay the remaining cost |
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Definition
| a debt instrument where the issuer is a corporatioon, government agency, who owes you money |
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Definition
| a policy that covers a loss due to damage, theft, or injury within ones home |
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| the recipient of assets passed on from the death of a friend or relative |
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| payment received for work, such as wages, salaries, commissions, and tips |
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| a type of card that is issued by a bank and used to make purchases, the money comes directly out of a checking account. |
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| percentage paid to a lender for the use of borrowed money |
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| retirement plan similar to 401k but it is offered by non-profit organizations, hospitals, schools, etc. |
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Definition
| 1. charge for borrowed money 2. money paid to savers and investors by financial institutions for the use of their money. |
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Term
| Certificate of Deposit CD |
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Definition
| similar to a savings account but with a slightly higher interest rate however, the money is locked up for a certain amount of time |
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Definition
| accounts at financial institutions that allow regular deposits and withdrawls |
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Definition
| A person's total income prior to withholdings and deductions |
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