your life your money
About this set
Created by:
sbrightmon4710 on February 22, 2011
Subjects:
Log in to favorite or report as inappropriate.
Order by
31 terms
Terms | Definitions |
|---|---|
 entreprenewr | person who starts up and takes on the risk of a business |
| financial literacy | Your knowledge of facts, concepts, principles, and technological tools that are fundamental to being smart about money. Being this will enhance your economic well-being by allowing you to make informed decisions. |
| financial security | having enough money saved to be able to withstand crises and emergencies |
| personal finance | The study of personal and family resources considered important in achieving finance success; thus it involves how people spend, protect, save, and invest their financial resources. |
| interest | a diversion that occupies one's time and thoughts (usually pleasantly) |
| account verification | proof of an account |
| automated teller machine atm | An electronic machine that bank customers and credit union members can use to withdraw cash and make other financial transactions. |
| balanced | total debits and credits are equal |
| bank | Financial institution at which you can get a checking account or savings account. |
| checking account | a bank account against which the depositor can drawn checks payable on demand |
| compound interest | interest calculated on both the principal and the accrued interest |
| credit union | a cooperative depository financial institution whose members can obtain loans from their combined savings |
| debit card | a card (usually plastic) that enables the holder to withdraw money or to have the cost of purchases charged directly to the holder's bank account |
| deposits | minerals laid down by nature |
| withdrawl | the discomfort and distress that follow discontinuing the use of an addictive drug |
| direct deposits | when the employee deposits the employees check into his or her personal banking accountant. |
| federal deposit insurance company | insured individual deposits up to 5,000, no more bank failures |
| fees | Service fees for use of the checking account, built into the service agreement. |
| loans | an amount of money borrowed for a certain time period |
| money orders | a purchased certificate used to pay a specified amount of money to a particular payee |
| credit union | a cooperative depository financial institution whose members can obtain loans from their combined savings |
| online telephone banking | allows you to pay bills, check your balance, etc. at any time of the day or night |
| opt out | choose not to do something, as out of fear of failing |
| savings account | a bank account that accumulates interest |
| thrift | extreme care in spending money |
| wire transfer | an electronic communication that, via bookkeeping entries, removes funds from the payer's bank and deposits them in the payee's bank |
| expenses | an expense is an outflow of money to another person or group to pay for an item or service, or for a category of costs. |
| plan | a series of steps to be carried out or goals to be accomplished |
| periodic | recurring or reappearing from time to time |
| variable | a quantity that can assume any of a set of values |
| discretionary expenses | A recurring or non-recurring expense for goods and services which are either non-essential or more expensive than necessary |
First Time Here?
Welcome to Quizlet, a fun, free place to study. Try these flashcards, find others to study, or make your own.