Life Smarts Prep

Personal Finance

Banking Services

APY – Annual Percentage Yield — The true or effective rate of interest when compounding is taken into effect
ATM – Electronic terminals located on bank premises or elsewhere, through which customers of financial institutions may make deposits, withdrawals, or complete other transactions as they would through a bank teller
Canceled check – Checks the bank has processed
Cash machine – See ATM
Cashier’s check – A check written by a bank on its own funds in exchange for payment by an individual
CD – A time certificate representing a sum of money deposited for a set length of time, such as six months
Checking account – A banking service wherein money is deposited into an account and checks are written to withdraw money as needed
Commercial bank – An institution which accepts deposits, makes business loans, and offers related services
Compound interest – Interest earned on both principal and interest
Credit union – A member-owned and controlled not-for-profit financial cooperative that offers a variety of savings and lending services to members
Debit card – A plastic card that consumers may use to make purchases, withdrawals, or other types of electronic fund transfers; use of a debit card generally results in an immediate transfer of funds
Direct deposit – The deposit of funds directly into a bank account as a form of payment
EFT – Electronic Funds Transfer – transferring funds electronically rather than by check
FDIC – Federal Deposit Insurance Corporation – Provides deposit insurance which guarantees checking and savings deposits in member banks up to $250,000 per depositor
Fees – Charges for services rendered
Finance company – A company that makes loans to businesses and/or individuals
Money market account – A bank deposit that pays interest and that allows a saver to withdraw money at will, often by writing checks
NSF – Not sufficient funds – a check written without sufficient money in an account to cover it
Overdraft – A check written without sufficient money in an account to cover it
POS Terminal – A point-of-sale terminal serves as a computerized cash register; it can track orders, accept credit cards and debit cards, and keep inventory, among other things
Reconcile – Adjusting one’s checkbook balance to match one’s bank statement
Savings – The process of setting aside money until a future date instead of spending it today. The goal of saving is to provide funds for emergencies, short-term goals, and investments
Savings & Loan – Financial institutions that provide loans and interest-bearing accounts. Accounts in federally chartered S&Ls are federally insured
20/10 Rule – One should never borrow more than 20 percent of one’s yearly net income, and payments should not exceed 10 percent of monthly net income
3 C’s – Used by creditors to measure the credit-worthiness of potential customers, the three C’s are:

capacity, character, and capital

Budgeting

Assets – An asset is anything that is owned by an individual. With respect to saving and investing, assets are generally categorized as liquid (cash) assets and capital (investment) assets

Balanced Budget – A situation where income and expenses are equal

Budget – An organized plan for saving and spending based on your expected income and expenses

Budget deficit – A situation where there is not enough money to cover expenses

Budget surplus – A situation where money is left over after all obligations have been paid

Cash flow – Typically used to measure the health of a business, it calculates income minus expenses

Comparison shop – Checking several alternatives to find the best product at the best price

Disposable income – The money you have to spend or save as you wish after taxes, social security, and other required and optional deductions have been withheld from your gross pay

Emergency Fund – An amount of money set aside to cover bills in case of emergency

Expenses – The things people pay for with their money

Financial Plan – A plan of action that allows a person to meet not only the immediate needs but also the long-term goals

Fixed expenses – Expenses that remain the same each month

Flexible expenses – Expenditures that change each month and can be reduced or eliminated if necessary

Impulse spending – Making purchases without comparing costs or benefits beforehand

Income – Money earned in exchange for work, or received from investments, allowance, or gifts

Investing – The process of setting money aside to increase wealth over time and accumulate funds for long-term financial goals such as retirement

Liabilities – Money owed to individuals, businesses, or institutions

Net worth – The total value of a person or company, which can be calculated by subtracting liabilities from total assets

Pay Yourself First – The concept of putting aside a sum of money into savings each month before paying other bills

Record keeping – To write down information about a transaction or series of transactions

Risk management – The process of analyzing exposure to risk and determining the best way to handle such exposure

Savings – The process of setting aside money until a future date instead of spending it today. The goal of saving is to provide funds for emergencies, short-term goals, and investments

Sharing – Using a portion of income to make charitable contributions

Spending – The act of paying money for something

Spending habits – The ways in which a person typically uses money

Variable expenses – Expenses that increase or decrease

Credit

Annual fee – The annual membership fee, if any, to have a credit card

APR – Annual Percentage Rate- The cost of credit for one year expressed as a percentage

Capital – Wealth available to produce more wealth; assets of a person or business after liabilities are deducted

Closed-end credit – A contract for the loan of a specified amount in which the contract issued tells the amount of purchase, the total finance charge, and the amount of each payment

Collateral – Savings, bonds, insurance policy, jewelry, property or other item that is pledged to pay off a loan or other debt if payments are not made according to the contract; also called security

Co-signer – A person other than the borrower who assumes equal responsibility for a loan or lease

Credit bureau – A for-profit company that is in the business of accumulating, storing, and distributing credit information

Credit line – An arrangement in which a bank or vendor extends a specified amount of unsecured credit to a specified borrower for a specified time period

Credit report – A written report issued by a credit bureau that contains relevant information about a person’s creditworthiness

Default – A status assigned to a cardholder if he or she fails to perform or conform to all the items listed in the cardholder agreement

Delinquent – Failing to make a required payment on time

Down payment – An amount given as security for a loan to ensure that other remaining payments will be made

FCBA – Fair Credit Billing Act – Federal law that covers credit card billing problems. It applies to all open-end credit accounts (e.g., credit cards, overdraft checking)

FCRA – Fair Credit Reporting Act – Consumers’ rights are protected when collecting and reporting information when applying for credit, insurance, and employment

Fee – A charge for services rendered

FICO score – Fair Isaac Credit Organization score – the most widely used credit score model in the United States

Finance charge – The percentage charge applied to the daily or monthly balances as described in the credit agreement

Finance company – A company that makes loans to individuals and/or businesses

Grace period – The period of time from the billing date of your last credit card bill to the due date of your current bill, when you can pay in full without being charged interest

Installment loan – A loan to be repaid in fixed payments that include principal and interest

Interest – Money paid for the use of money; earnings on a savings account

Minimum payment – The smallest payment you can make to maintain a credit account on current status

Open-ended credit – A line of credit which can be used repeatedly until a certain limit is reached

Payday loan – A small, short-term loan that is intended to cover a borrower’s expenses until his or her next payday

Predatory lending – Lending practices which are fraudulent, deceptive, discriminatory, or unfavorable. The practices may be legal, but they are not in the best interest of the borrower

Prime rate – An index rate that is used to determine the APR in a variable interest rate account

Repossession – When a lender or seller takes back property from the borrower or buyer, usually due to default

Revolving credit – A credit agreement that allows consumers to pay all or part of the outstanding balance on a loan or credit card. As credit is paid off, it becomes available to use again

Secured credit card – A consumer uses savings or other collateral to guarantee the credit card; the limit of credit is based on the amount of collateral available

Truth-in-Lending – A law that required a lender to inform a borrower of the amount financed, total finance charges, annual percentage rate, payment schedule, and many more important figures

Unsecured debt – A credit source that is not guaranteed with collateral

Usury laws – Laws setting maximum interest rates that lenders may charge

Decision Making

Alternative – One of many choices or courses of action that might be taken in a given situation

Choice – Decision made or course of action taken when faced with a set of alternatives

Customs – Long-established practice or habit by a person, family, or society

Delayed gratification – Making an economic choice to postpone a reward

Evaluation – Setting criteria to help establish value or worth

Goods – Tangible objects that satisfy economic wants

Human Capital – The health, education, experience, training, skills, and values of people. Also known as human resources.

Impulse purchase – Making a purchase without comparing prices and benefits beforehand

Long-term goal – Something a person or organization plans to achieve at least five years in the future

Media literacy – Using critical thinking to analyze mass media and its messages

Needs – Items you must have to live

Opportunity Cost – The value of the best alternative you give up when scarce resources are used for one purpose rather than another

Peers – Those belonging to the same societal group based on age, grade, or status

Priorities – Judging among alternatives, especially when goods or services are in short supply

Pay Yourself First (PYF) – Putting money into savings each month (or each paycheck) before paying other bills

Resources – Items that are useful in the process of achieving goals; natural, human, and capital resources

are used to produce goods and services

Risk – The possibility of variation in the return on an investment

Scarcity – In an economic system, choices are made about how resources will be used because it is not possible to produce all goods and services that people want

Services – Actions performed to satisfy economic wants

Short-term goals – Something a person or organization plans to achieve within a one-year time period

Standards – An established measure of quality or quantity

Time-value-of-money – Money received today is worth more than the same amount received later due to its earning potential

Unintended consequences – Unexpected results of a decision or action

Values – Strongly held beliefs or principles about what is right or wrong, or what is valued

Wants – The items people wish to have, but that are not necessary for survival

Making Money

Bartering – The mutual exchange of goods and services
Benefits – Something worth a monetary value that an employer provides to employees in addition to salary
Bonus – Money (or something else of value) given to an employee in addition to regular pay, often a reward for job performance
Business Profit – Gross business income minus operating expenses
Capital Gain – Profits from sale of assets, such as stocks, bonds or real estate that are not taxed until the asset is sold
Commission – A percentage of sales received as income
Compensation – Wages plus fringe benefits
Dividend – A distribution of money or stock that a corporation pays to stockholders
Fee – A pre-determined amount of money for a service performed
Gross Income – Income before payroll taxes are removed from the paycheck
Hourly Wage – The rate of pay for each hour worked during a regular workweek
Interest – Money paid for allowing someone else to use your money
Minimum Wage – The lowest hourly wage allowed by state or federal law
Net Pay – Take home pay after payroll taxes and voluntary deductions are removed
Non-Taxable Fringe Benefit – These benefits are not included in gross income. Examples include health & dental insurance or access to a company gym
Overtime – The rate paid during the workweek after an employee has worked 40 hours. This rate is usually 1-1/2 times the hourly wage
Pension – Income received from a retirement fund when the worker leaves the workforce and has reached retirement age
Perk – Compensation that is not wages. Perks make the job more enjoyable, convenient or help the worker perform on the job
Piece Rate – The type of pay workers receive when they earn money for each item produced
Rent Income – Income received for the use of real property
Royalties – Income earned when others use your original work
Salary – Money paid bi-weekly or monthly to an employee for performing a set of duties
Taxable Fringe Benefit – The value of these benefits must be included in your taxable income. Personal use of a company car is an example
Tip – A small gift of money, usually in return for a service; also called a gratuity
Transfer Payment – Income paid by government to individuals

Let’s Talk About Money

Assume risk – Paying the full price if a financial loss occurs

Avoid risk – Not engaging in behavior that could cause a financial loss

Budget – An organized spending and savings plan whereby you match your expected income to your expected outflow

Cash flow – The total amount of money being transferred into or out of a business, account or an individual’s budget

Credit card – A card that authorizes the delivery of cash, goods or services for future payment with interest, according to a specific repayment schedule

Credit report – Confidential report on a consumer’s payment habits as reported by their creditors to a consumer credit reporting agency

Credit score – A statistical system used to rate credit applicants according to various characteristics relevant to creditworthiness

Debit card – A card, issued by a financial institution, that allows consumers to make purchases, withdrawals, or other types of electronic fund transfers directly from checking or savings accounts

Fixed expenses – Expenses that are the same each month

Flexible expenses – Expenditures that change each month and can be reduced or eliminated if necessary

Impulse buy – An unplanned decision to purchase retail merchandise on a whim or at the spur of the moment

IRA-individual retirement account – A retirement plan that allows workers to set aside money each year in tax-deferred savings

Needs – Items necessary to live, such as clothing, food and shelter

Overdraft – A expenditure (check or debit card) made without sufficient money in an account to cover it

Overdraft protection – A line of credit that allows you to spend more funds than your actual balance

PYF-pay yourself first – Putting money into savings each month (or each paycheck) before paying other bills

Reconcile – Comparing and adjusting the checkbook record to balance with the bank statement

Reduce risk – Taking steps to eliminate the likely possibility of financial loss

Risk – The probability of financial loss

Skimming – Criminals use a device that copies information from a credit or debit card’s magnetic strip in order to use the card illegally

Transfer risk – Paying a fee for another party to assume your financial loss

Wants – Items that are desired, but that are not needed to live

Retirement Planning

401(k) – Employer-sponsored retirement savings accounts that offer tax benefits (meaning that you pay less in taxes by saving your money in them)

Compound interest – Interest that is calculated and paid on both the initial principal and the accumulated interest

Emergency fund – Money saved to help cover unexpected expenses

Employee contributions – Money contributed by an employee to an employer-sponsored retirement plan such as a 401(k) or a pension

Employer match – Money an employer contributes to an employee’s retirement savings plan when the employee also contributes

Individual retirement account (IRA) – Tax-advantaged retirement savings accounts that are established by individuals rather than employers

Investing – Putting money into an asset (such as a stock, bond, or mutual fund) with the expectation that it will grow over time, but with the risk that it will not

Long-term care – A variety of services that help meet both the medical and non-medical needs of people with a chronic illness or disability who cannot care for themselves for long periods; these services are not covered by Medicare

Medicare – The federal health insurance program for people age 65 and older and some people with disabilities

Pay Yourself First – The idea that consumers should routinely and automatically put money into savings before spending on anything else

Pension – Employer-sponsored retirement plans that guarantee a certain monthly benefit for life

Retirement planning – The process of determining retirement income goals and establishing a plan to meet them. This includes estimating expenses, saving money, and deciding how to invest your savings

Saving – Setting aside income or money for future spending

Social Security Disability Insurance (SSDI) – A part of the Social Security program that pays monthly benefits to eligible workers under the age of 65 who cannot work because they have a qualifying severe disability

Social Security – A long-standing federal insurance program to provide benefits to older adults, their survivors, and workers who become disabled

Buying A Used Car

“as is” – The dealer is not responsible for any problems or needed repairs. The risk for anything that goes wrong after the sale belongs to the consumer.

Book value – Estimated market or trade-in worth of a used vehicle as published in a guide by businesses such as Kelly Blue Book, Edmunds, or NADA.

Buyers Guide – A disclosure document displayed on a vehicle that provides consumers important purchasing and warranty information. The Buyers Guide tells consumers to get a vehicle

history report, how to check for safety recalls, and other topics.

CPO, Certified, Pre-owned – Vehicles that have been inspected, repaired if necessary, often have low mileage, and usually have an extended warranty.

Extended warranty – Service contract that provides for no cost or low-cost vehicle repair, after the factory or dealer warranty expires

Factory warranty – Promise by the vehicle manufacturer to repair or replace defective components for a specified period of time.

FTC Used Car Rule – The federal rule that requires all used car dealers to place a Buyers Guide in a conspicuous place on each used vehicle.

Lemon laws – State laws that protect the buyer when a vehicle has a serious defect.

NHTSA – National Highway Traffic Safety Administration; federal agency responsible for motor vehicle and highway safety

Registration – Legally recording ownership of a vehicle with a government agency for tax and licensing purposes. The registration certificate is carried in the vehicle.

Safety recall – When a manufacturer or NHTSA determines that a vehicle, equipment, car seat, or tire creates an unreasonable safety risk, or fails to meet minimum safety standards, a recall is issued. Manufacturers are required to fix the problem by repairing it, replacing it, or offering a refund.

Salvage title – The vehicle was declared a total loss by an insurance company because of a serious accident or other problems.

Title – Document that shows legal ownership of a vehicle

VIN – Vehicle Identification Number; A unique code used by the automobile industry to identify and track each vehicle manufactured.

Vehicle Report – Tied to a vehicle’s VIN number, this report outlines data about a vehicle’s past, including the previous owners and accidents reported to the insurance company.

Higher Education

Accreditation – Status a school gets when it meets standards set by an agency recognized by the U.S. Department of Education

Associate’s Degree – A degree from a two-year college after a 60-plus credit course of study

Award Letter – A letter from an individual school explaining the financial aid package the school is offering a student

Bachelor’s Degree – An undergraduate academic degree gained after completing four years of study including general courses and an in-depth program

COA – Cost of Attendance; tuition and fees, room and board, allowances for books and supplies, transportation, and personal and incidental expenses are included

Certificate Program – A program where students learn the core skills needed to perform a specific job

Co-signer – Individual who assumes responsibility for a loan if the borrower fails to repay it

Default – The failure to meet the terms of a credit agreement, loan, grant, or contract

Delinquent – Status when a person is behind in their loans payments; goes into effect the first day after a missed student loan payment

Diploma Mill – An institution of higher education operating without supervision of a state or professional agency, granting diplomas that are either fraudulent or worthless because of the lack of proper standards

SAI – Student Aid Index; A number provided by the federal government that helps colleges and financial aid offices determine a student’s eligibility for federal financial aid

FAFSA – Free Application for Federal Student Aid; the student aid application used to determine eligibility for federal student aid programs

FSA – Federal Student Aid, the office within the U. S. Department of Education that manages the Federal Student Aid programs

FSEOG – Federal Supplemental Educational Opportunity Grant; grant money provided by the federal government for schools to award to students who demonstrate exceptional financial need

Federal Direct PLUS Loan – Loans made to parents of dependent students, interest is charged once the loan is dispersed

Financial Aid Package – The total assistance, including loans, grants, scholarships, and work-study, offered to a student by a school, to help pay for the student’s education costs

Graduation Rate – Percentage of a school’s first-year undergraduate students who complete their program within 150% of the standard time for the program

Grant – Financial aid that is typically based on need and does not have to be repaid

Job placement rate – The percentage of graduating students who obtain employment either in the recognized occupation for which they were trained or in a related occupation

Loan – Money for education expenses that comes from the federal government or private sources such as a bank or credit union, and must be repaid

Merit-based aid – Financial aid awarded based on specific accomplishments or talents rather than financial need

PELL Grant – A grant awarded by the federal government to students who display exceptional financial need

PSLF – Public Service Loan Forgiveness, a federal program that erases debt after a graduate works ten years in public service

private student loan Education funding from banks, credit unions, and lenders other than the federal government

SAR – Student Aid Report, a summary of the information on your FAFSA form, including your EFC, an estimate of eligibility for federal student loans, and PELL Grants

Scholarship – A form of financial assistance that does not require repayment

Scholarship Scam – Offers to help get financial aid or scholarships while the real goal is to steal your personal information or charge for a service that you can get for free

State-based Financial Aid – Financial aid funded by individual states and issued by school financial aid offices

Student Loan Servicer – A company assigned to handle the billing and other services on a federal student loan

Subsidized Loan – A federal loan that doesn’t accrue interest while a student is in college

Unsubsidized Loan – A federal loan that accrues interest as soon as it is received

Work-study – Part-time jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay education expenses

Credit Reports

Authorized user – Secondary account holder on a credit card, may make purchases, but is not responsible for payment

Cash advance – Short term loan offered by your credit card issuer

Collection – Past-due bill that has been sent to a third-party debt collector

Co-signer – A person who agrees to repay the loan in the event the primary borrower does not; a co-signer is considered a co-borrower and is equally responsible for repayment of the loan

Credit bureau – For-profit company that is in the business of accumulating, storing, and distributing credit information

Credit history – Record of how a consumer has repaid credit obligations in the past

Credit report – Written report, issued by a credit bureau, containing relevant information about a person’s creditworthiness

Credit score – A number generated by a statistical model used to objectively evaluate information pertaining to a credit decision

Creditor – Lender or someone to whom you are financially indebted

Default – Failure to make payments or to meet the terms and conditions of the loan or other debt

Delinquent – Failure to make an on-time minimum payment on a loan or other debt

FCRA – Fair Credit Reporting Act; Federal law governing how credit bureaus collect and share information about consumers, who may lawfully access credit reports, and providing consumers with access to their own reports

FICO® scores – Three-digit number based on the information in your credit report; helps lenders determine how likely you are to repay a loan

Inquiry – Item on a consumer’s credit report that shows someone with a “permissible purpose” has requested a copy; hard inquiries, such as applying for a credit card or loan, affect your credit score, soft inquiries, such as checking your report yourself, do not

Interest rate – The amount charged, expressed as a percentage of principal, by a lender to a borrower for the use of money

Minimum payment – The smallest payment you can make to maintain a credit account on current status

Secured credit card – The use of savings or other collateral to guarantee a credit card; the amount of credit is based on the amount of collateral available

Utilization – Amount of money borrowed compared with the amount of credit extended

Consumer Rights & Responsibilities

Consumer Rights

1040 – The IRS individual tax filing form

1099 – A form that reports income from self-employment earnings, interest and dividends, and government payments

Dependent exemption – Amount that taxpayers can claim for a “qualifying child” or “qualifying relative;” each exemption reduces the income subject to tax

Dependent – A qualifying child or relative who entitles the taxpayer to claim a dependency exemption

Deduction – An amount that reduces the amount of income subject to tax

E-file – The preparation and transmission of tax return information to the IRS using telephone lines or a computer with a modem or internet access

Earned income – Money derived from paid work, this includes wages, salaries, tips, and net earnings from self-employment

Exemption – Amount that taxpayers can claim for themselves, their spouses, and eligible dependents; there are two types of exemptions – personal and dependency

Federal income tax (FIT) – A tax on personal income

Gross income – Total income earned

Medicare tax – A tax that provides medical benefits for workers, retired workers, and the spouses of workers upon reaching age 65

Net income – Income after deductions

Payroll tax – Taxes are taken from your paycheck, including federal income, Social Security, and Medicare taxes

Progressive tax – A tax that takes a larger percentage of income from high-income groups than from low-income groups

Proportional tax (or flat tax) – A tax that takes the same percentage of income from all income groups

Refund – Money owed to taxpayers when their total tax payments are greater than the total tax; refunds are paid by the government

Regressive Tax – A tax that takes a larger percentage of income from low-income groups than from high-income groups

Salary – Compensation received by an employee for services performed; a fixed sum paid for a specific period of time worked, such as a week or month

Tax Evasion – A failure to pay or deliberately underpaying taxes owed

Underground Economy – Money-making activities that people don’t report to the government, including both legal and illegal activities

Voluntary Compliance – The federal income tax system that relies on individual citizens to report their income freely and voluntarily, calculate their tax liability correctly and file a tax return on time

W-2 – A tax form that shows the amount of taxes withheld from your paycheck for the year and is used to file your federal and state taxes

W-4, Employee’s Withholding Certificate – Completed by the employee and used by the employer to determine the amount of income tax to withhold

Wages – Compensation received by employees for services performed; computed by multiplying an hourly pay rate by the number of hours worked

Withholding – Money withheld from employee paychecks; this money is deposited for federal income taxes, Social Security taxes, and state and local income taxes in some states

Unearned Income – Income not acquired through work or business activities, but from other sources such as allowance, interest, gifts, or dividends

Federal Income Taxes

“as-is” -Description of goods sold in their present condition, usually indicating there is no warranty

Arbitration – Neutral third party settles a dispute between two conflicting sides

Better Business Bureau – A not for profit organization that accredits businesses and establishes “best practices” for a fair and honest marketplace

Bureau of Consumer Protection – Part of the Federal Trade Commission, the Bureau of Consumer Protection stops unfair, deceptive and fraudulent business

Consumer Action Panel – Industry trade groups that will help resolve a dispute between its members and a consumer

Class action – Lawsuit filed on behalf of a group of people who have the same complaint

Cooling Off Rule – Federal rule that allows the consumer three days to cancel a door-to-door purchase over $25 (and over $130 at certain temporary locations)

Comparison shop – Contrasting features and prices of a product before purchasing

Consumable goods – Soft goods, these products typically provide a single use, or a short period of use, and are destroyed or disappear as the consumer uses the product

Consumer Bill of Rights – Federal legislation that outlines the rights of consumers in the marketplace

Consumer Product Safety Commission (CPSC) – Federal agency charged with protecting the public from unreasonable risks of injury or death associated with the use of thousands of consumer products

Dispute resolution – To settle conflict between parties by negotiation, mediation or arbitration

Durable goods – Hard goods, products that last and are available to the consumer for an extended period of use

Federal Trade Commission (FTC) – Federal agency with a unique dual mission to protect consumers and promote competition

Implied warranty of merchantability – Unwritten guarantee that a product will perform the function it was designed and sold to perform

Lemon Law – Federal and state laws that require a refund or replacement if a vehicle has a problem that is not fixed within a reasonable number of tries

Mediation – Parties in a dispute meet with an additional neutral party, together they create their own solution

Negotiation – Formal discussion in order to reach an agreement or resolve a conflict

Redress – Remedy for a wrong, a loss or problem

Responsible use – Using a product as directed for its intended purpose

Service contract – Extended warranty, the consumer pays a fee to have the warranty continued beyond the original expiration date

Small claims court – State court, a judge resolves disputes concerning small amounts of money; usually does not require legal representation

Warranty – Assurance a product will perform its purpose over a specified period of time or be repaired/replaced

Financing Education

Financial Aid

Direct -Federal Loan – Loans available from the U. S. government issued under the William D. Ford Federal Direct Loan Program

Direct PLUS Loan – Loans made to parents of dependent students; interest is charged once the loan is disbursed. This loan requires a credit check

EFC – Expected Family Contribution; The dollar amount that a family is expected to pay toward a student’s educational costs, based on family earnings, assets, students in college, and family size

FSEOG – Federal Supplemental Educational Opportunity Grant; Grant money provided by the federal government for schools to award to students who demonstrate exceptional financial need

Grant – Financial aid that is typically based on need and does not have to be repaid

Pell Grant – A grant awarded by the federal government to students who display exceptional financial need

Private student/parent loan – Education funding from banks, credit unions, and lenders other than the federal government

SAP – Satisfactory Progress; An eligibility requirement for borrowers, established by schools, to receive federal student aid

Scholarship – A form of financial assistance that does not require repayment

Student loan servicer – A company assigned to handle the billing and other services on a private or federal student loan

Subsidized loan – A federal loan for which the government pays the interest while you are in school at least half-time, during your post-graduation grace period, and if you need a loan deferment

TEACH – Teacher Education Assistance for College and Higher Education; Grants to students who are completing or plan to complete course work toward a teaching career. Requires recipients to agree to complete four years teaching as a condition for receiving a grant

Unsubsidized loan – A federal loan for which the borrower is responsible to pay interest as soon as the loan is received

Work study – Part-time jobs for students with financial need, allowing them to earn money to help pay education expenses

Decoding A Promissory Note

APR – Annual Percentage Rate; The cost of credit for one year expressed as a percentage

COA – Cost of Attendance; tuition and fees, room and board, allowances for books and supplies, transportation, and personal and incidental expenses are included

Capitalization – Adding unpaid, outstanding interest to the principal balance of a loan when the borrower postpones paying interest

Cosigner – A person who agrees to repay the loan in the event the primary borrower does not; a cosigner is considered a co-borrower and is equally responsible for repayment of the loan

Credit check – A written report issued by a credit bureau that contains relevant information about a person’s creditworthiness

Creditworthy – A lender’s determination that a credit applicant is likely to repay the loan according to the terms

Default – Failure to make payments or to meet the terms and conditions of the loan’s promissory note

Deferment – A time when a borrower is not required to make any payments. Interest continues to accrue and will be added to the principal balance

Disbursement – The delivery of loan funds to the school or the borrower. Loan disbursements are generally credited to the student’s account at the school

Fixed interest rate – An interest rate that remains the same for the life of the loan

Forbearance – A temporary postponement of payments

Grace period – A period of time when the student is not required to make student loan payments, usually for six or nine months after graduation, but also when dropping below half-time status or withdrawing from school

In-school payments – Financial aid that is typically based on need and does not have to be repaid

Privacy – The ability to control the information that is shared about you

Principal – The original amount of money disbursed plus the interest capitalized during the life of the loan

Promise to pay (promissory note) – A legally binding agreement the borrower (and cosigner) sign, in which there is a promise to repay a loan, with interest, in periodic installments

Term/repayment period – The amount of time the borrower is scheduled to repay the principal balance and interest on a loan

Variable interest rate – An interest rate that may change periodically throughout the life of the loan

Counterfeit Products

Authentic – Real, genuine, of undisputed origin

Certification mark – A symbol that verifies a product or service meets specific standards; the UL Mark is an example

Counterfeit – An item that uses someone else’s trademark without their permission; an imitation intended to deceive

Deceptive counterfeit goods – Counterfeit products consumers believe to be genuine

Dupe influencer – A social media influencer who reviews and links to counterfeit products

Deceptive product – Goods that are not what they claim to be; products may be inferior, counterfeit, defective, and dangerous

False certification – Products with fake claims of certification and test result

Gray market – The sale of genuine products that are diverted from authorized distribution channels and sold by third-party vendors

IP protection – Intellectual property protection; legal system that allows intellectual property to be patented, therefore licensed and protected, so that people can turn their ideas into profit, spurring innovation

Intellectual property rights – Rights associated with intangible assets, often called creations of the mind, which are protected by copyrights, trademarks, and patents

Intellectual property rights violation – Any product that infringes on US trademarks and copyrights

Knockoff – A product that closely resembles a brand name item but is not identical

Non-deceptive counterfeit goods – Counterfeit products consumers generally understand are not genuine

Piracy – Stealing original work, usually by downloading or copying the work without paying and without permission

Replica – A new term used by counterfeiters to describe items that are identical or very similar to brand name products; especially used by social media influencers to describe shoes and handbags

Third-party seller scam – Schemes devised by some independent sellers to defraud shoppers by selling fake products through online popular marketplaces

Laundry 101

Bio-detergent (biological detergent) – Laundry detergent formulated with enzymes to boost cleaning power

Bio-technology – Manipulation of living organisms for the benefit of society, the environment and industry

Care symbols – Pictograms that indicate the manufacturer’s suggestions for garment care

Cold water wash – Temperature range of 60-80 degrees Fahrenheit

Catalytic enzymes – Present in detergents designed for cleaning in cold water, cleaning with less water, and requiring smaller amounts of detergent to remove stains and soil

Garment lifecycle – The number of times a garment is worn before being discarded; Americans average less than 50 “wearings” per garment

Green chemistry – Designing products to reduce or eliminate the use of hazardous substances

Greenwashing – The practice of falsely advertising a product or process as “green” or environmentally friendly

Hot water wash – Water temperature of 130℉ or above

Microplastics (microfibers) – Plastics less than 5mm in length; fine synthetic fibers found in synthetic textiles such as spandex, polyester and nylon

Safer Choice – An EPA program certifying products to be safe and environmentally friendly

College Majors

The Vocabulary: Day 1

Academic Period – The time frame for which a student is enrolled; usually it is a semester, quarter, or trimester with specified start and end dates

Academic year – The period of time during which a school holds classes

Admission requirements – The specific criteria and qualifications that students must meet in order to be accepted into a college or university

Advising – The process of receiving guidance and support from academic advisors to help students make informed decisions about course selections and major choice

AOS (Area of Study) – The specific academic field or discipline that a student chooses to focus on during their college education, synonymous with a major

BA (Bachelor of Arts) – An undergraduate degree typically awarded in fields related to the liberal arts, humanities, and social sciences

BS (Bachelor of Science) – An undergraduate degree typically awarded in fields related to the natural sciences, mathematics, engineering, and technology

Catalog – A comprehensive publication provided by colleges and universities that contains detailed information about academic programs, courses, and policies

Change of Major – The process by which a student officially switches their declared major to a different one, often involving specific requirements and procedures

Competitive major – A major or academic program with limited enrollment capacity, high demand, and rigorous admission criteria due to its popularity and limited availability

Concentration – A specialized area of study within a major that allows students to focus on a specific topic or aspect of their chosen field

Core curriculum/Core requirements – A set of required courses that all students must complete as part of their undergraduate education, designed to provide a well-rounded foundation

Course load – The number of classes a student takes each term; can vary by term

Declaration of major – The formal process through which a student officially selects and announces their chosen field of study for their undergraduate degree

Degree – Document awarded to a student when they finish a higher education course of study

Degree audit – An evaluation or assessment of a student’s academic progress, showing completed and remaining requirements for graduation

Discipline – A specific field of study or academic department, such as history, biology, psychology, or engineering

Electives – College classes the student chooses that are outside of their major areas of study

LAC (Liberal Arts College) – A type of college that emphasizes a broad-based education in the liberal arts and sciences

ROI (Return on Investment) – A measure of the financial benefits gained from investing in a college education compared to the costs incurred

The Vocabulary: Day 2

Enrollment status – The course load of a student reported by the school, generally defined in terms of full-time, half-time, less than half-time, withdrawn, or graduated

GE (General Education) – A set of courses that provides a well-rounded education by covering a range of subjects outside a student’s major, often required for graduation

General education courses – A set of required courses in various subjects (e.g. math, science, humanities) that all students must complete to ensure a well-rounded education

Impacted – A term used to describe majors or programs with more applicants than available spots, resulting in a competitive admission process

Internship – A work experience opportunity where students gain practical, on-the-job training and real-world experience in their field of study

Major – A specific area of study that a student decides to focus on in college

Minor – Directed study that requires fewer credits than a major

Portfolio – A collection of a student’s work, projects, and achievements that showcases their skills and accomplishments in their chosen field

Pre-major – A status assigned to students who have not yet officially declared their major but are working toward meeting their prerequisites and requirements for admission to a program

Prerequisite – A required course or condition that must be completed before enrolling in a more advanced course in the same subject

Reach school (1-2) – A post-secondary school a student has a relatively low probability of being admitted to. Recommended to apply at 1-2 reach schools

Safety school (2-3) – Any college or university where your academic credentials exceed the range for incoming freshmen, and you have a very good chance of being accepted. Recommended to apply at 2-3 safety schools

STEM – An acronym representing academic disciplines and fields related to science, technology, engineering, and mathematics

Target school (3-5) – A school where a student’s academic credentials fall within the school’s average range and the student has a good probability of being admitted. Recommended to apply at 3-5 target schools

Undecided – Students who have not yet chosen their major and are exploring their options

Undergraduate student – A student who is enrolled in a course of study at or below the bachelor’s level

UG (Undergraduate) – Pertaining to students pursuing their first degree in higher education, typically a bachelor’s degree

UAC (Undergraduate Advising Center) – A resource or department at a college or university that provides academic advising, guidance, and support to undergraduate students during their academic journey

UP (Upper Division) – Refers to the latter part of a student’s undergraduate education, typically when they begin taking more specialized and advanced courses in their major

Health & Saftey

Apartment Safety

ABC Fire Extinguisher –All-purpose fire extinguisher for Class A, B, and C fires

Accelerant – Substance used to aid the spread of fire

Arson – Criminal act of intentionally starting a fire

Carbon monoxide – Often called the invisible killer, an odorless, colorless gas created when fuels such as gasoline, wood, coal, natural gas, propane, oil, and methane burn incompletely

Circuit breaker – Switches in the electrical panel, these automatically turn off electricity if the line is overloaded

Class A fire – Burning wood, paper, cloth or plastic

Class B fire – Burning grease, oil, or chemicals

Class C fire – Burning electrical cords, switches, or wiring

Class D fire – Burning combustible metals

Class K fire – Fire in cooking that involves animal oils and fats

Combustion – Process of burning

Conflagration – An extensive, destructive fire

EDITH – Reminder acronym: Exit drills in the home

Fire escape plan – Planned and practiced exit path from a burning building

Fire triangle – Three things a fire needs to burn: oxygen, fuel and heat

Flashover – When the fire temperature reaches the ignition point of the materials in the area, spontaneous combustion occurs

Ionization fire alarm – Detectors containing a small amount of radioactive material, generally more responsive to flaming fires

PASS – Acronym for operation of a fire extinguisher: Pull, Aim low, Squeeze, Sweep

Photoelectric fire alarm – Detectors that use light and photosensors to detect smoke, more responsive to smoldering fires

Smolder – To burn with little smoke and no flame

Stop, Drop, and Roll – Slogan for response if your clothing should catch on fire

Drug Facts Label

AAPC – American Association of Poison Control Centers

Acetaminophen – A drug that elevates the body’s pain threshold and lowers fever. The most widely used pain reliever in the United States

Active Ingredient – The drug component(s) of a medicine

Analgesics – This category of drugs relieves pain

Anti-inflammatory – This category of drugs reduces inflammation, redness, swelling, warmth and pain (NSAID)

Antipyretics – This category of drugs reduces fever

API – Active pharmaceutical ingredient

Aspirin – One of the oldest OTC pain relievers on the market, it works by slowing down the body’s production of a pain-causing substance called “prostaglandin”

Brand Name Drug – A brand name drug sold with a trademark-protected name

Buffered – A pain reliever that contains an antacid to reduce the amount of acid in your stomach

Diuretic – Drug that causes increased urination

DXM – Dextromethorphan; an over-the-counter cough suppressant found in cold medications (and a drug often abused by teens)

Dose (dosage) – The amount of medicine to take

Drug – A substance for treatment, or prevention, of disease; intended to affect the structure or a function of the body

Drug Facts Label – OTC drugs are required to have this label on the product package so that consumers can easily find the product information. Components of the label include:

Active ingredient – Drug(s) the medicine contains

Directions – How much to take, when to take

Inactive ingredients – What is in the medicine in addition to the drug

Purposes – What the drug is for

Uses – What problems the drug can treat

Warnings – Who should not take the medicine; problems to watch for

Drug Interactions – When one drug interacts with another it changes the way one or both of the drugs work in the body and can cause unexpected, and sometimes dangerous, side effects

DUI – Driving under the influence

DUID – Driving under the influence of drugs

DWI – Driving while impaired

Emetic – Drug that causes vomiting

Enteric-coated – A special coating allows pills to pass undigested through your stomach and dissolve in your small intestine, which helps prevent or reduce stomach irritation

Excipient – The active ingredient in a drug is suspended in this inactive ingredient

Extra-strength Drugs – Drugs that contain more active ingredient than regular-strength products do

FDA – Food and Drug Administration; the federal agency that is responsible for assuring the safety and effectiveness of drugs

Generic Drug – A drug that is the same as a brand name drug in dosage, safety, strength, how it is taken, quality, performance, and intended use

GRAS/E – Generally recognized as safe and effective

Hepatotoxicity – Toxic to the liver, liver poisoning

Ibuprofen – A common non-steroidal anti-inflammatory drug (NSAID), it works by blocking the production of substances in the body that cause pain and inflammation

Legend Drug – Another name for a prescription drug

Medicine – See Drug

Naproxen Sodium – A non-steroidal anti-inflammatory drug (NSAID) that works by blocking the production of substances in the body that cause pain and inflammation

NSAID – Non-steroidal anti-inflammatory drugs, such as aspirin or ibuprofen

OTC – Over-the-counter, medicines that are sold without a prescription from a health care professional

Pharmacy – Drugstore

Prescription Drug Product – A licensed drug product that requires a doctor’s authorization and prescription to purchase

Reye’s Syndrome – Serious disorder affecting children after a viral infection; associated with aspirin

Robotripping – A slang term for the abuse of cough syrup

Rx – Indicates a prescription drug

Side Effects – Unwanted or unexpected effects from a medicine

Skittling – A slang term for the abuse of cough syrup and cold medicine

Strength – How much of the active ingredient is present in each dose

Timed-release – Also called extended-release or sustained-release, these drugs dissolve slowly over time, allowing the active ingredient to work over many hours

Sun Saftey

Basal cell – The most common form of skin cancer that begins in the outer layer of the skin.

Broad-spectrum – A term found on sun protection labels that indicates it provides protection from

both UVA and UVB rays.

Hypoallergenic – A term, sometimes found on sunscreen, that manufacturers may use to imply a product causes fewer allergic reactions; it is not regulated by the FDA and no

federal standard governs this term.

Melanoma – The third most common skin cancer, is dangerous and causes the most deaths.

Skin cancer – Abnormal cell growth of the skin.

SPF – Sun Protection Factor; SPF is a measure of how much UV radiation (solar energy) is required to produce sunburn on skin protected with sunscreen, relative to the amount of solar energy required to produce sunburn on unprotected skin; SPF does not inform consumers about the time that can be spent in the sun without getting sunburn.

Squamous cell – Cancer that begins in thin, flat cells found in the tissue that forms the surface of the skin.

Sunblock – Substance that contains minerals ingredients that block UV rays.

Sunscreen – Substance that protects the skin through a chemical reaction to UV light; converting UV rays into heat then releasing them from the skin.

UV index – The UV Index is a forecast of the amount of skin-damaging UV radiation expected to reach the earth’s surface at the time when the sun is highest in the sky; the UV Index can range from 0 at nighttime to 11+.

UVA – The UV rays are most likely to reach the earth; these rays can reach deep into human skin and are linked to long-term skin damage such as wrinkles.

UVB – UV rays that can damage the DNA in skin cells, causing sunburns and most skin cancers.

UVC – UV rays that do not reach the earth’s surface because they are blocked by the ozone layer; humans are only exposed to UVC radiation from artificial sources such as a lamp or laser.

Water-resistant – Found on the sunscreen label, the number of minutes sunscreen remains effective when exposed to or submerged in water. Sunscreen is available in water-resistant 40 or water-resistant 80.

Medicine 101

Acetaminophen – A drug that elevates the body’s pain threshold and lowers fever. The most widely used pain reliever in the United States

Active Ingredient – The drug component(s) of a medicine

Analgesics – This category of drugs relieves pain

Antipyretics – This category of drugs reduces fever

Aspirin – One of the oldest OTC pain relievers on the market, it works by slowing down the body’s production of a pain-causing substance called “prostaglandin”

Brand Name Drug – A brand name drug sold with a trademark-protected name

Buffered – A pain reliever that contains an antacid to reduce the amount of acid in your stomach

Diuretic – Drug that causes increased urination

DXM – Dextromethorphan; an over-the-counter cough suppressant found in cold medications (and a drug often abused by teens)

Dose – The amount of medicine to take

Drug – A substance for treatment, or prevention, of disease; intended to affect the structure or a function of the body

Drug Facts Label – OTC drugs are required to have this label on the product package so that consumers can easily find the product information. Components of the label include:

DUID – Driving under the influence of drugs

DWI – Driving while impaired

Emetic – Drug that causes vomiting

Excipient – The active ingredient in a drug is suspended in this inactive ingredient

Generic Drug – A drug that is the same as a brand name drug in dosage, safety, strength, how it is taken, quality, performance, and intended use

GRAS/E – Generally recognized as safe and effective

Hepatotoxicity – Toxic to the liver, liver poisoning

Ibuprofen – A common non-steroidal anti-inflammatory drug (NSAID), it works by blocking the production of substances in the body that cause pain and inflammation

Legend Drug – Another name for a prescription drug

NSAID – Non-steroidal anti-inflammatory drugs, such as aspirin or ibuprofen

OTC – Over-the-counter, medicines that are sold without a prescription from a health care professional

Pharmacy – Drugstore

Prescription – A licensed drug product that requires a doctor’s authorization and prescription to purchase

Reye’s Syndrome – Serious disorder affecting children after a viral infection; associated with aspirin

Rx – Indicates a prescription drug

Side Effects – Unwanted or unexpected effects from a medicine

Skittling – A slang term for the abuse of cough syrup and cold medicine

Strength – How much of the active ingredient is present in each dose

Health Care Coverage

ACA; Affordable Care Act – Federal law passed in 2010 to make health care coverage available to more people, expand Medicaid, and reduce health care costs

CHIP; Children’s Health Insurance Program – Program that provides low-cost health coverage to children in families that earn too much to qualify for Medicaid

Coinsurance – The percentage of costs of a covered service that the insured pays, after reaching the deductible

Copayment – A fixed amount the consumer pays for a covered health care service

Deductible – The amount the consumer owes for covered health care services before their health insurance plan begins to pay

Employer-based insurance or employer sponsored insurance – Insurance provided by an employer to employees and their dependents, with costs often shared between employer and employee; also called group health insurance

Fee-For-Service Plan – Health insurance payment plan that pays healthcare providers for each service performed

FSA; Flexible Spending Account – A special tax-deferred savings account consumers use to save money to pay certain health care expenses

Health Insurance – Insurance that helps pay medical bills

Health Insurance Marketplace (or exchange) – A web-based platform where individuals, families and small employers can shop for, and enroll in, private health insurance

Health Maintenance Organization – A type of health insurance where medical services are covered in part or fully when the insured uses services that are delivered by providers who are part of the network. Care delivered by providers not in network is generally not covered by this insurance

Individual Mandate – A requirement in some states that all individuals must have health insurance

Insured – A person covered by an insurance policy

Medicaid – A joint federal and state program that provides healthcare coverage for individuals with limited income and resources. Eligibility varies by state

Medicare – The federal health insurance program for people 65 or older, and others with certain disabilities

Medigap Insurance – Private insurance plans that supplement Medicare

Open Enrollment – The period during which a health care plan or insurer accepts new applicants

Pre-existing Condition – A medical issue or condition a patient has sought medical treatment for before enrollment in a new health insurance plan

(PPO); Preferred Provider Organization – A type of health insurance where care delivered by providers who are part of the network has a lower co-pay than care delivered by a provider who is not part of the network. Unlike an HMO, in a PPO services provided out-of-network will generally be paid for by insurance, but the consumer will pay more of the cost of care when the provider is not in the network

Premium – An amount paid to have an insurance policy

Policy coverage – A contract between a policyholder and an insurer that details the terms and conditions of coverage

Private insurance – Insurance offered by a company and not the government

Technology & Workforce

Be Safe Online

Adware – Software that has advertisements embedded into the program

Anti-spyware – Software that detects and removes spyware from a computer

Computer Forensics – Investigation and analysis techniques that gather and preserve data from a computing device

Cybercrime – Criminal acts using computers, networks and/or the Internet

Firewall – Hardware or software that blocks unauthorized communications to or from your computer; helps prevent hackers from accessing your computer

Hacker – Person who uses the Internet to access personal or business computers without permission

Identity Theft – All types of crime in which someone obtains and uses another person’s personal data in a way that involves fraud or deception, typically for economic gain

Keystroke logger or keylogger – Software that can record every keystroke you make on your computer. Used to record and capture data input. (Keyloggers are often used by employers to ensure computer use is work-related)

Malware – Short for “malicious software;” includes viruses and spyware that steal personal information, send spam and commit fraud

Phishing – Email sent that misrepresents the sender as legitimate and with the intent of having the recipient reveal private information that can be used for identity theft

Ransomware – Malware that locks a computer system or encrypts computer files until a “ransom” fee is paid

Smishing – A variation of phishing using SMS (short message service) to send misleading text messages

Spam – Electronic junk mail

Trojan – Malware that appears to be a legitimate program, but when activated often causes loss or theft of computer data

Virus – Malicious code embedded in a data or program file, spread from one device to another by opening an executable file. A virus is spread by human action.

Worm – A subclass of virus that can travel without being attached to a program or data file and without human action; a worm can replicate itself thousands of times

Write A Resume

Action words – Verbs used on a resume to describe professional skills, tasks, and achievements in a short and powerful way

Activities / clubs / honors – A heading on a resume under which you list special activities you participated in, organizations you joined, and honors you won, received or achieved

Chronological format – A resume format that showcases work history starting with your current job and working backwards, listing employers, dates, and job responsibilities

Education – A heading on a resume under which is listed the post-secondary schools and the high schools attended, noting any relevant courses

Employment – A heading on a resume under which you list your current employment and other relevant positions, the dates of employment duties and accomplishments

Experience – A heading on a resume under which you list past work experience and skills relevant to the position you are applying for

Functional format – A resume format that focuses on skills and responsibilities and is more likely to be used after you have been in your career for some time

Objective – A short statement near the top of your resume that details the type of job you are seeking and your career goals. Also called a branding statement

Personal Information – A heading on a resume under which you include your name, address, phone number and email

References – A heading on a resume under which you list the people who will provide information about you and endorse you for the job

Resume – A one page summary of your skills, education, and experience, most often used to gain new employment

Summary of skills – A heading on a resume under which you list special skills or talents that are not included elsewhere on the resume, but would be relevant to the employer

Shop Smart Online

Affiliate marketing – A marketing arrangement in which a company pays other people, companies, or web sites a commission for traffic or sales

Cookie – A small file of information from a web browser that is stored on a computer to make webpages load faster or save personal information

Digital Footprint – Your personal trail of online activity, including likes, posts, and information gathered about you through websites or apps

Federal Trade Commission – FTC; Federal agency that protects consumers by promoting competition and preventing anticompetitive and unfair business practices

Mobile payment – Use of websites, apps, or text messages to make payments from a mobile device

Online shopping – Electronic commerce which allows consumers to directly buy goods or services from a seller over the Internet using a web browser or an app

Opt-in – To agree to receive messages, emails, or other communication from a company

Opt-out – Declining unwanted e-mail, phone calls, or other communication from a business

Pop-up – Small windows, usually containing advertisements, that suddenly appear in a web browser

Privacy policy – A document that outlines how owners of a website use information they gather about users, customers or employees

Refund – Repay money, typically to a dissatisfied customer

Retail – The sale of goods to the public in relatively small quantities for personal or household use

Return policy – Rules established by retailers to manage the process for customers to return or exchanged unwanted or defective merchandise

Review – A critical appraisal of a product Sale – A period during which a retailer sells goods at reduced prices

Shopping – Purchasing goods from retailers

Viral marketing – Marketing that encourages consumers to share advertising messages on the Internet

Social Media

Algorithms – a set of formulas used by websites to develop content promotion strategies

App-savvy – a good knowledge and understanding of various computer applications

Autonomy – the ability to make your own decisions about what to do rather than being influenced by someone else or told what to do

Crisis Text Line – text HOME to 741741 to connect with a crisis counselor 24/7

Dark web – an encrypted part of the internet not indexed by search engines which needs specific authorization to access

Digital Detox – a period of time during which a person refrains from using electronic devices such as smartphones or computers, regarded as an opportunity to reduce stress or focus on social interaction in the physical world

Digital Divide – the economic, educational, and social inequalities between those who have computers and online access and those who do not

Digital Native – a person born or brought up during the age of digital technology and therefore familiar with computer and the internet from an early age

Digital Wellness – our physical, mental, and social wellbeing when interacting with technology

Doxxing – the act of publicly providing personally identifiable information about an individual or organization, usually with malicious intent

Finsta – short for “fake insta”. Used to describe a secret or fake Instagram page

Gaming Disorder – a diagnosable mental health condition characterized by an inability to control the urge to play video games despite negative consequences

Invasion of Privacy – the unjustifiable intrusion into the personal life of another without consent

Metaverse – a virtual-reality space in which users can interact with a computer-generated environment and other users

Online Predator – someone who seeks contact with children and adolescents on the internet for abusive and exploitative purposes

Oversharing – the disclosure of an inappropriate amount of detail about one’s personal life

Privacy Settings – controls available on many websites and apps to limit who can access your profile and what information visitors can see

Self-Regulation – the ability to control your behavior and manage your thoughts and emotions in appropriate ways

Social Displacement – the idea that time spent on social media replaces time spent in face-to-face interaction, thus reducing wellbeing

Social Media Guidelines – a document that lays down some general rules of conduct on social media

Environment

Protect the Planet

Bioclimate – Concerned with the relationship between climate and living organisms

Bio-products – Materials, chemicals and energy derived from renewable biological resources make deposits, withdrawals, or complete other transactions as they would through a bank teller

Carbon footprint – Total amount of greenhouse gas emissions that an individual, group, product, or event emits either directly or indirectly to the environment

Downcycle – Recycling that creates new products that are of lesser economic value than the original product

Environmentally-friendly – A generic statement often used to designate a product or process that has a reduced ecological footprint when compared to other products/processes

E-waste – Electronic products near the end of their useful life

Going Green – A lifestyle that consists of reducing an individual’s negative impact on the environment

Green washing – Marketing scam which makes claims or implies the product or service is environmentally friendly

Post-consumer waste – Waste produced by the end consumer of a material. The waste produced did not lead to the production of another product

Recycle – Process of turning a previously used item into a new product in an effort to reduce waste and reduce greenhouse gas emissions

Renewable resource – A resource that can be replenished at a rate equal to, or greater than, its rate of depletion

Social responsibility – Ethical or ideological theory that an organization or individual has a responsibility to society. This responsibility can be “negative”, meaning there is a responsibility to refrain from acting or it can be “positive,” meaning there is a responsibility to act

Sustainability – The capacity to endure. In ecology, the word describes how biological systems remain diverse and productive over time. For humans it depends on the well-being of the natural world and the responsible use of natural resources.

Upcycling – Process of recycling in such a way that the new products are of higher economic value

Cold Water Clean