Unit 6 FL

Share Account: The credit union term for a savings account.

Share Draft Account: The credit union term for a checking account.  

Short-Term Goal: A goal to be achieved within the next three months.  

Social Security Tax: A payroll deduction collected by employers by law and sent to the federal government to provide a small income and other services to the elderly, disabled Americans, and orphaned minors.

Spending Plan: Another term for budget. (see Budget) 

Spyware: A bad side effect of free downloads that may be used to send you pop-up ads, redirect your computer to unwanted Web sites, monitor your Internet surfing, or record your keystrokes in an effort to steal your Identity.

State Income Tax: A payroll deduction collected by employers by law and sent to the state government to support state services.

Stock: An investment that makes the investor a part owner of a company.

Stock Market: The place where stocks are bought and sold.

Time Value of Money: The idea that money today is worth more than the same amount of money in the future due to its potential earning capacity.

Universal Default: A clause included in many credit card company agreements that allows a credit card company to increase your interest rate if you make just one late payment.

Values: The beliefs, qualities, or standards that you consider important or desirable.

Variable Expenses: Expenses that are not fixed.

Wants: Things that make life more interesting and fun but that people can live without if they have to.

Yield: The profit from an investment.