| A | B |
|---|
| habit | something you do without even thinking about it. |
| peer pressure | Makes you want to be like everyone else. |
| thrifty | frugal with your money |
| debt | owing money |
| bad debt | owing money for a liability |
| good debt | owing money on an asset |
| DTI | Debt to Income Ratio |
| ROI | Return on Investment |
| need | an essential expense |
| want | a non-essential expense |
| bargain | a great deal on something |
| purchase | buy |
| financial record | any document that verifies the amount of money you earn, spend, and save |
| budget | a written spending plan |
| receipts | show when, where, and what you paid for |
| deposit | adding money to your bank account |
| withdrawl | taking money out of your account |
| register | your personal record of all checking account activities and your current balance |
| current balance | amount of money you presently have in your account |
| impulse buying | making a purchase without thinking about it |
| overcharged | paying more than you should |
| refund | return of money paid |
| bank fees | what a bank charges for an account |
| branch | an extension of the bank in another city |
| phishing | online scam to get your private banking information |
| transaction | any deposit or withdrawl from your account |
| bank fine | penalty for failing to keep track of the money in your account |
| overdraw | writing a check for more money than you have |
| interest | future money paid for current money given |
| variable interest | interest that changes from time to time |
| fixed interest | interest that stays the same for the duration of the loan |
| compound interest | interest is added to the interest accumulated |
| due date | day in which your payment must be made |
| investment | paying money now for future gains |
| capital gain | investment for a one time pay-off |
| cash flow | investment for a continual pay-off |
| credit rating | a number that indicates your credit risk |
| APR | Annual Percentage Rate |
| Annual Service Fee | a price paid yearly |
| minimum payment | the least amount you must pay each month |
| grace period | amount of time you have to pay your bill without interest |
| principal | amount borrowed without interest |
| down payment | amount payed up front |
| income | all wages and interest |
| credit reference | someone who will say you are responsible |
| layaway | store keeps your purchase until it is paid for |
| repossess | the store or bank takes back the purchased item |
| liability waiver | protects against loss or damage |
| variable expenses | amount budgeted can change |
| fixed expenses | amount budgeted cannot change |
| Excessive spending | expenses are more than necessary |
| expenses | complete list of everything you spend |
| adjust | adding from one category and subtracting from another |
| balanced budget | income is equal to expenses |
| collateral | item of value used as protection against a loan |
