| A | B |
|---|
| savings | The portion of income not spent on current expenditures |
| depository institution | Business that offers financial services to people, such as savings and checking accounts |
| time value of money | Money paid out or received in the future is not equivalent to money paidout or received today |
| Interest | The price of money |
| savings account | Account with a depository institution that holds money not spent on current expenditures |
| money market deposit account | Type of account that pays a higher interest rate than a savings account |
| Certificate of Deposit | Account that pays interest on a lump sum of money. Required to stay there for a specific period of time. |
| goal | The end result of something a person intends to acquire, achieve, do, reach, or accomplish. |
| Financial goals | Specific objectives to be accomplished through financial planning and include saving money |
| trade-off | Giving up one thing for another |
