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50-20-30 Rule

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Terms in this set (29)

A popular savings rule of thumb in which 50% of your income goes towards necessities, 20% goes towards saving and debt repayment, and 30% goes towards flexible spending

Certificate Of Deposit (CD)

A bank product that earns interest on a lump-sum deposit that's untouched for a predetermined period of time

Compound Interest

Reinvesting earned interest back into the principal to allow money to grow exponentially over time

Cost-Push Inflation

Inflation caused by an increase in production costs, but demand is the same

Demand-Pull Inflation

Inflation caused by an increase in demand, but supply is the same