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Social Science
Economics
Saving
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50-20-30 Rule
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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
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A vocabulary study guide for NGPF's Saving unit. Visit www.ngpf.org for more information!
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Terms in this set (29)
50-20-30 Rule
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