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Urbana-ChoosetoSave Matching
net income
the amount of an individual's take home pay after taxes and deductions
compound interest
earning interest on interest
liabilities
Debts or what is owed to others
Interest
the price of money
level of living
the amount of money needed to pay for the necessities and comforts currently enjoyed
Assets
Everything an individual or household owns with monetary values
liquidity
how quickly and easily an asset can be converted to cash
Depository institution
a business that offers banking & financial services
net worth statement
Describes an individual or family's financial condition on a specified date
investing
the purchase of assets with the goal of increasing future income
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