| A | B |
|---|
| Will | Legal document disposing of a person's property at death. |
| Real estate | A form of investment - land and any buildings on it. |
| Mutual fund | A professionally managed group of investments bought using a pool of money from many investors |
| Dividend | Earnings on stock |
| Interest | Earnings on bonds, savings accounts and certificates of deposit |
| Risk | The possibility of losing something of value |
| Liquidity | The ability to convert an investment into cash QUICKLY without losing value |
| Fixed expenses | Costs you are obligated to pay at specific times, regardless of other events (i.e specified amount due at a regularly scheduled time) |
| Variable expenses | Costs that may change from time period to time period |
| Budget | A plan to match expected income with expected expenses |
| April 15 | Federal Income Tax filing deadline |
| House of Representatives | According to the US Constitution, where bills for raising revenue must orginate |
| Audit | Examination of tax returns by the IRS |
| Dependent | A person who lives with you and receives economic support from you |
| Gross pay | The total amount earned, including regular pay and overtime, BEFORE deductions |
| W-2 | A summary of income you earned and all amounts your employer withheld for taxes. This is filed with the IRS. |
| W-4 | The for you (the EMPLOYEE) fills out when you begin working - this determines with amount your employer will withhold from your paycheck for income taxes. |
| Resume | A summary of information about you, including your education, skills and experiences |
| Experience | Knowledge and skills acquired from working in a job field |
| Self-analysis | A self inventory listing your strengths and weaknesses, to help you prepare for a career |
| Phishing | Methods scammers use to get your personal information |
| Simple interest | I = PxRxT |
| Calculating gross pay | Regular hours worked x regular rate of pay + any overtime hours worked x reg. rate of pay x 1.5 |
| Credit report | A written statement issued by a credit bureau that contains important credit facts about a consumer |
| Capacity | The financial ability to repay a loan (One of the 5 C's of credit) |
| Consumer Credit Protection Act/AKA Truth in Lending Act | Legislation that requires full disclosure of all costs of credit, including finance charge and annual percentage rate (APR); consumers are limited to $50.00 liability if credit card is lost or stolen |
| Fair Credit Billing Act | You have the right to but you MUST make your request in WRITING |
| HIPAA | Act protecting the privacy and use of your medical records |
| Indemnification | The mathematics of chance; the chance that something will happen |
| Claim | A demand for payment for a loss (Insurance) |
| Deductible | A specific amount subtracted from covered losses (Insurance) |
| Attractive nuisance | An item, located on a property, that is appealing but potentially hazardous, especially to children |
| Major medical insurance | protects a person form large and catastrophic expenses resulting from injury or illness; does NOT typically include vision or dental insurance |
| Capital | The amount borrowed (in a loan) |
| Preferred Provider Organization (PPO) | a group of health care Health care providers who band together to provide health services for set fees |
| Permanent | This form of insurance is to protect against the loss of income; provides a LIFETIME of insurance at a guaranteed rate and some versions of it may also build cash value |
| 25/50/10 | Automobile liability insurance - $25,000.00 per individual per accident for bodily injury $50,000.00 limit per accident for bodily injury $10,000.00 limit per accident for property damage to someone else’s property |
