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| interest paid on the principal alone. |
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| interest calculated on both the principal and the accrued interest. |
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| In finance, the rule of 72, the rule of 70 and the rule of 69 are methods for estimating an investment's doubling time |
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| tax-exempt security: a security that is not subject to taxation. |
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Temporary differences are differences between the carrying amount of an asset or liability recognized in the statements of financial position and the amount attributed to that asset or liability for tax which are temporary differences that will result in taxable amounts in determining taxable profit (tax loss) of future periods when the carrying amount of the asset or liability is recovered or settled; or
deductible temporary differences, which are temporary differences that will result in deductible amounts in determining taxable profit (tax loss) of future periods when the carrying amount of the asset or liability is recovered or settled. |
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| The annual rate that is charged for borrowing (or made by investing), expressed as a single percentage number that represents the actual yearly cost of funds over the term of a loan. This includes any fees or additional costs associated with the transaction. |
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| Annual percentage yield (APY) is a tool for evaluating how much a deposit earns you. Why would you look at an account’s APY? Because it is a standardized way of comparing investments. Your job as a consumer is to put your money where it will get the highest APY. |
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| certificate of deposit (CD) |
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| A certificate issued by a bank to a person depositing money for a specified length of time |
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| Savings bonds were created to finance World War I, and were originally called Liberty Bonds. Unlike Treasury Bonds, they are not marketable. In 2002, the Treasury Department started changing the savings bond program by lowering interest rates and closing its marketing offices.[16] As of January 1, 2012, financial institutions no longer sell paper savings bonds.[17] The annual (calendar year) purchase limit for electronic Series EE and Series I savings bonds is $10,000 for each series. The limit is applied per Social Security Number (SSN) or Taxpayer Identification Number (TIN). For paper Series I Savings Bonds purchased through IRS tax refunds (see below), the purchase limit is $5,000 per SSN, which is in addition to the online purchase limit. |
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| Factors about the way a person lives and works that affect his/her financial income, needs, and expenses |
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| A set of consecutive ages that tend to have similar incomes, needs, and expenses |
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| People who rely on another person for primary financial support---e.g., children, spouse, other family members |
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| economy, whether favorable or unfavorable, as The state of the measured by economic indicators, including interest and unemployment rates |
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| The highest grade in school or degree completed |
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| A person’s work circumstances, whether employed or unemployed, full-time or part-time, self- or other-employed |
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| A person’s health factors, whether sick or well, able or disabled, injured or not |
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| Whether married or single, divorced, separated, etc. |
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| Typical stages of wealth a person accumulates during the life cycle |
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| The sum total of assets belonging to one person---including money, property, and personal possessions |
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| The stage during which most people form a family, begin to work and earn money |
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| The stage that includes the peak earning years, giving money to oneself |
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| The stage of retirement and wealth consumption, money given to chosen ones |
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| Individual and Family Life Cycles |
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| Typical stages of life for individuals and families |
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| A family of young adults who marry; newlyweds |
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| A child-bearing family; has one or more young children |
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| A developing family, with children growing into middle childhood and early teens |
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| A family with middle-age parents and children leaving home for college, etc. |
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| A pre-retirement famly, no children at home |
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| A family of elderly adults, usually retired |
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| Families that do not follow the “typical” life cycle stages |
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