Unit 11 - Personal Financial Literacy
Terms in this set (24)
A plan for how a person, family, or organization will raise and spend money
A type of cost that is the same every month no matter how much it is used
A type of cost that changes depending on how much it is used
When you use debit card or write a check, money is deducted from this type of account.
An account that can be opened even if you have no other accounts and it usually has higher interest rates
Certificate of Deposit
an account in which consumers agree to not withdraw any money for a set period of time
an account where money is usually invested in the stock market to make money for retirement.
money that you owe to creditors
Annual Percentage Rate
A yearly interest rate charge on a credit card
The amount of days you can go before interest is charged on a credit card
get a piece of the company's profits for owning some of the company
What is the profit you make from selling a stock, bond, or real estate called?
protection against large-scale financial loss
a demand made by the insured person to have a payment made as determined by the policy
the payment you make to an insurance company in exchange for its promise of protection and help
the amount of the loss you must pay out of your pocket before the insurance company begins to reimburse you
A legal document that tells how you want your estate to be distributed after your death
single payment credit
requires the payment of the entire principal at the end of its duration, rather than in monthly installments
type of credit that has a fixed number of payments
type of credit where a borrower has a certain amount of money available that doesn't require a final date to be paid off, therefore, it rolls over to the next month.
how easily an investment can be turned into cash
When a check is returned due to insufficient funds, what is it called?
What is the maximum amount of money you can spend on a credit card called?
The amount of money paid upfront on a loan
YOU MIGHT ALSO LIKE...
Principles of Economics
OTHER SETS BY THIS CREATOR
Legislative Branch Vocab
Unit 2 - Civil Liberties and Civil Rights
Unit 2 - Vocab - Foundations
Unit 1 - Citizenship