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vocab

test

TermDefinition
401(k) Retirement saving investment with deferred taxes until the money is withdrawn later
529 plan an educational investment account designed to help you prepay tuition or save for education
Budget a spending and saving plan
Certificate of deposit short-or long-term, interest-bearing investments offered by banking institutions
Check a written order to the ban to take money from your account to pay a person or business
checking account a service provided by banking institutions to allow you to deposit and withdraw money
checkbook register space to track your checking account deposits and withdrawals
Compounding interest interest that is calculated on the balance, additional deposits,and interest earned
Credit card debt the amount you owe on credit cards that you cannot pay
Debit card cards that allow for immediate deductions from a checking account
FDIC federal insurance designed to protect your money
Financial plan a blueprint containing your personal goals,timeline for reaching your goals, and an understanding of how to save to reach your goals
Fixed expense expenses that are the same amount each month
income the amount of money you earn
Insurance coverage you can purchase to provide reimbursement or incase of lost
Investment putting money into something with a n expectation of a financial gain
IRA overall term for a retirement lan with tax advantages
Needs something that is necessary for you to live your life
Online banking option for paying your bills over the internet
Savings account a bank account on sich you earn compounding interest
Stocks shares in a company
Tax shelter investments designed to reduce the amount of your taxable income
Variable expenses expenses that may be different amounts each month
Wants something you desire,demand, or would like to have
Created by: tinanina
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