money use to help pay for college based on ability like sports etc.
New cards
5
Grants
Money used to help pay for college based of national, sex, race etc.
New cards
6
Federal loans
Loans you take out for paying thing by the government.
New cards
7
FAFSA
Form used to help figure out which types of financial aid people have and organize it.
New cards
8
Cost of living
The cost of surviving in an area like housing and food etc.
New cards
9
Median wage
The middle of what certain wages get paid for certain jobs in a certain area.
New cards
10
Items in a budget
money that is organized to figure what and when to pay for.
New cards
11
Emergency Fund
money saved in case of an emergency.
New cards
12
Net monthly income
Monthly income before deductions.
New cards
13
Savings Account
An account use for savings for something which earns intrest over time.
New cards
14
Debit card
A card where you can spend, but not over what you have on the card.
New cards
15
Check
a written, dated, and signed instrument that directs a bank to pay a specific sum of money to the bearer.
New cards
16
Income Tax
a tax on people´s income used by the government.
New cards
17
Property tax
a tax paid on property owned by an individual or other legal entity, such as a corporation.
New cards
18
Sales Tax
a tax on items you buy, but it differs from state to state.
New cards
19
Excise tax
Taxes that prevent bad habits by taxing them, but has deductions on good habits.
New cards
20
W-4 Form
A filled out by an employee to figure out how much to withhold from paycheck to put toward federal taxes.
New cards
21
w-2 Form
A filled out by an employer to figure out how much to withhold from paycheck to put toward federal taxes.
New cards
22
Credit Score
A score based on how well you use your credit card it goes from 300-850.
New cards
23
Credit Utilization
The percent of your credit card you can use.
New cards
24
Credit Card
Card you use buy, but you have to pay later so you have to make sure you do not go into debt.
New cards
25
Principal balance
The amount of money of the original loan.
New cards
26
Interest Rate/APR
Annual percent fees per and interest rate is the growth per year.
New cards
27
Amortization
the action or process of reducing or paying off a debt with regular payments.
New cards
28
Loan term
amount time on a loan
New cards
29
Net Worth
asset - debts
New cards
30
Premium
amount of money paid perodically.
New cards
31
Deductible
amount taken out of check for important things like healthcare.
New cards
32
Liability
owing a company or someone money.
New cards
33
Co- pay
a flat fee that you pay on the spot each time you go to your doctor or fill a prescription.
New cards
34
401k
a defined contribution plan where an employee can make contributions from his or her paycheck either before or after-tax, depending on the options offered in the plan.
New cards
35
Stocks
a share in the ownership of a company, including a claim on the company's earnings and assets.
New cards
36
Bonds
a debt security, similar to an IOU in a business.
New cards
37
Commodities
Raw material type of stock.
New cards
38
Mutual Funds
types of stock that are grouped together.
New cards
39
Real estate
something you own that is attached to a piece of land.
New cards
40
Return on investments
money you get back on investments.
New cards
41
Profit or loss
gaining or losing money.
New cards
42
Checking account
Account held at a bank and can be accessed by an account holder
Studied by 25 people
