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VaultVocabulary
Term | Definition |
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Assets | What a person owns of value, such as jewelry, savings, art, a home, and a car. |
Bank | A place where people put their money for safekeeping, and for ease of use. |
Brokerage Firm | Helps people invest their money. |
Budget | A spending plan people make in order to make sure there is enough income to cover all expenses. |
Career | Something you build by going to school and working jobs related to the career you want. |
Certificate of Deposit | A savings certificate that gains interest and has a set time before you can withdraw your money. |
Charity | Giving resources or volunteering time to help those in need. |
Companion Shopping | Finding out whether or not what you are about to buy can be found for a better price or in better shape at a different store. |
Controlling Risks | Stuff you do to make risks less dangerous or not dangerous at all. |
Credit | A loan that a person uses to pay for things, but is expected to pay back. |
Credit Union | Just like a bank, only its members own it. |
Decision Making | Considering different information to make a choice. |
Entrepreneur | A person who starts his or her own business. |
Expense | The cost of the things that people spend money on. |
Financial Advisor | A person who is an expert at handling money and can give you information and adivce about saving and investing. |
Financial Institution | A place, like a bank, that helps its members manage their money. |
Financial Literacy | The knowledge and skills to manage money. |
Health Insurance | Helps people pay for medicine and doctors when they are sick or hurt. |
Impulse Buying | Buying stuff without thinking about whether or not you need it. |
Income | Money earned from working and other means. |
Income Tax | Annual tax placed on the money employees make at jobs and collected by the federal goverment, most states, and some local goverments. |
Inflation | The price of goods and services rises over time. |
Interest | The extra fee charged for borrowing money, or the cost of borrowing money. |
Investing | When you purchase a security like a stock or bond, in the hopes that over time it will make money. |
Job | Work you do for money. |
Long-term Goal | A goal that can be achieved in a longer amount of time. It can be months, years, or even an entire lifetime. |
Need | Something you truly can not live without. |
Opportunity Cost | The cost we pay when we give up something to get something else. |
Payment Method | What you use to pay for something, like cash or a check. |
Peer Pressure | Doing stuff just because your friends are doing it, or because your friends told you to, because you want your friends to like you and think you are cool. |
Privacy | Keeping important information to yourself or between yourself and close family members. |
Reliability | Being trustworthy; being responsible. |
Risk | An activity or action that might be dangerous. |
Risk Prevention | Stuff you do to stop consequences of risks from happening. |
Salary | Payment for work, represented as a yearly sum and paid in portions every week, two weeks, or month including a sick time and vacation time. |
Sales Tax | A fee added to the sticker price of an item that is paid to the state or city. |
Savings | Money set aside for short- or long-term goals. |
Savings Account | An account that gains interest and allows withdraws. |
Short-term Goal | A goal that can be achieved in a short amount of time. It can be a few days, weeks, or months. |
Spend | To use money to buy stuff. |
Taxes | Fees placed on income, purchase, or property to support goverment programs. |
Wage | Payment for work, usually calculated on an hourly, daily, or piecework basis and paid on schedule- usually every week, two weeks, or month. |
Want | Something you would like to have but will be okay without. |