| A | B |
|---|
| Assets | Things of value that a person own |
| Budget | A spending and savings plan based on your expected income and expenses |
| Consideration | Anything of value exchanged as part of a contract |
| Contract | A legally enforceable agreement between two or more parties |
| Co-signer | A person who promises to pay a note if the maker fails to pay |
| Database | A computer program that organizes data for easy search and retrieval |
| Disposable income | Money you have left to spend or save after taxes have been paid |
| Financial Plan | A set of goals for spending, saving, and investing your income |
| Fixed Expenses | Costs you are obligated to pay at specific times regardless of other events |
| Liabilities | Money that you owe to others also known as debts |
| Negotiable Instrument | An unconditional written promise to pay a specified sum of money upon demand of the holder |
| Net worth | The difference between assets and liabilites |
| Spreadsheet | A computer program that organizes data in columns and rows and can perform calculations using the data |
| Variable Expenses | Costs that vary in amount and type, depending on events and the choices you make |
| Warranty | A statement about a product's qualities or performance that the seller assures the buyer are true |
| Discretionary Income | Money that is left over when the bills have been paid |
| Depreciation | the decline in value of property due to normal wear and tear |
| Blank Endorsement | An endorsement that consists only of the payee's signature |
| Cancelled Check | A check that bears the bank's stamp, indicating that it has cleared. |
| Cashier's Check | A check written by a bank on its own funds. |
| Certified Check | A personal check guaranteed by the bank to be good. |
| Checkbook Register | A booklet used for recording checking account transactions |
| Demand Deposit | Money on deposit in a bank that can be withdrawn at any time. |
| Floating a Check | Intentionally writing a check on an account without sufficient funds in the hope of making a deposit before the check is cashed. |
| Overdraft | A check written for more money than the writer's account contains. |
| Reconciliation | Comparing your checkbook register with the bank statement each month. |
| Restrictive Endorsement | An endorsement, such as the words "For Deposit Only," that limits use of the check. |
| Special Endorsement | An endorsement that transfers the right to cash the check to someone else. |
| Stop Payment Order | A request that the bank not cash a specific check. |
| Cash Value | The savings accumulated in a permanent life insurance policy that you would receive if you cancelled your policy |
| Collision Coverage | Auto insurance that protects your own car against damage from accidents or vehicle overturning |
| Comprehensive Coverage | Insurance that pays for damage to your care from events other than collision or vehicle overturning |
| Deductible | A specific amount subtracted from covered losses |
| Disability Insurance | insurance plan to replace income lost when illness or injury prevents the insured from working |
| Insurance | A method of spreading individual risk among a large group of people to make losses more affordable for all |
| Liability coverage | Insurance to protect against claims for bodily injury to another person or damage to another person's property |
| Liability risks | the chances of loss that may occur when your errors result in bodily injury to someone else or damage to someone else's property |
| Personal injury protection | auto insurance that pays for medical and funeral costs of the insured and passengers involved in an accident, regardless of fault |
| Policy | A written insurance contract |
| Policyholder | The person who owns an insurance policy |
| Premium | A fee usually paid at regular intervals to an insurer for an insurance policy |
| Risk | The chance of financial loss from perils to people or property |
| Term Life Insurance | Policy that remains in effect for a specified period of time |
| Umbrella Liability Coverage | Insurance that supplements basic auto and property liability coverage by expanding reimbursement limits and including some risks that were excluded in the basic coverage |
| Whole Life Insurance | Life insurance that remains in effect for the insured's lifetime and builds cash value |
