| A | B |
|---|
| Amoral | Lacking morals; neither good nor bad. Money is amoral...it can be used for good or bad |
| Emergency Fund | Three to six months of expenses in readily available cash |
| Sinking Fund | Saving money to allow interest to work for you rather thatn against you |
| Compound Interest | Interest paid on interest earned. Interest credited daily, monthly, quarterly, semi-annually, or annually on both principal and previously credited interest. |
| PACs | Preauthorized checking. Checking that is authorized by a payer in advance, and written either by the payee or by the payee's bank and then deposited in the payee's bank account |
| Priority | Level of importance. Saving must become a priority and you should always pay for your priorities or necessities first |
| Bills | Documents or statements that tell how much money you owe on a particular item (eg., Electric Bill, Doctor Bill, Telephone Bill, etc.) |
| Debt | Something owed, such as money, goods, or services. |
| Emotion | Any strong feeling |
| Contentment | happiness with one's situation in life |
| Murphy's Law | A humorous belief that anything that can possibly go wrong, will go wrong. |
| Fully Funded Emergency Fund | Having the total amount of money saved to cover the 3-6 months over expenses in case of an emergency |
| Consistent | Reliable or steady |
| Payor | A person who pays money for something |
| Payee | A person who gets paid for some good or service they have provided |
| Goods | Products or other items for sale |
| Services | Work done for someone who has paid for that service (eg., If you wash someones car for $5.00, then you he/she has paid you for the service of washing that car--you have not given them anything, just your labor.) |
