Finance Vocabulary

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Finance Vocabulary
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1. Account

• A holding place for money at a bank.

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2. Balance

• The amount available to spend in an account.

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3. Bank

• An institution for saving, borrowing and
  investing money.

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4. Budget

• Dividing available money into spending categories.

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5. Checking Account

• A bank account that allows you to write checks
  and is attached to a debit card.

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6. Co-Signer

• A person who takes responsibility for an
  agreement (loan) if the person who takes the loan
  fails to pay on time.

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7. Credit

• Buying goods on time and paying the money back
  with interest.

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8. Credit Report

• An official document that describes a persons
  credit history and ability to pay back loans on
  time.

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9. Credit Score

• A number made up of several factors that tells
  how credit-worthy (reliable) a borrower is.

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10. debt

• An amount of money or goods a person owes

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11. Debit

• A card linked to a checking account that can be
  used in stores.

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12. Expenses

• Amounts that need to be paid for month to month
  living.

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13. Interest

• The amount charged for borrowing money over time.

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14. Investment

• To accumulate money in order to make profit.

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15. Lease

• To borrow goods (housing, cars, etc) for a
  specific amount of time by contract.

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16. Loan

• Borrowing money to be paid back with interest
  over time.

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17. Mortgage

• A loan on a house.

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18. Occupation

• A job

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19. Paycheck/Payroll

• Money paid for performing work at a business.

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20. Payment

• To provide money to lower personal debts.

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21. Pending

• A payment that has been made but has not been
  fully processed by the bank.

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22. Principle

• The original amount of money borrowed before
  interest is added.

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23. SALARY

• A REGULATED PAY THAT STAYS THE SAME EVERY PAY
  PERIOD REGARDLESS OF HOURS WORKED.

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24. Savings Account

• A bank account that draws interest over time.

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25. Transaction

• A purchase at a store.