Understanding Money Vocabulary

assets

what a person owns of value, such as jewelry, savings, art, a home, and a car

bank

a place where people put their money for safekeeping, and for ease of use

brokerage firm

helps people invest their money

budget

a spending plan people make in order to make sure there is enough income to cover all

career

something you obtain by going to school and working jobs related to the work you want to do

certificate of deposit

a savings certificate that gains interest and has a set time before you can withdraw your money

charity

giving resources or volunteering time to help those in need

comparison shopping

finding out whether or not what you are about to buy can be found for a better price or in better shape at a different store

controlling risks

stuff you do to make risks less dangerous or not dangerous at all

credit

a loan that a person uses to pay for things, but is expected to pay back

credit union

just like a bank, only its members own it

decision making

considering different information to make a choise

entrepreneur

a person who starts their own business

expense

the cost of the things that people spend money on

financial advisor

a person who is an expert at handling money and can give you information and advice about saving and investing

financial literacy

the knowledge and skills to manage money

gods

things that are made to be sold

health insurance

helps people pay for medicine and doctors when they are sick or hurt

impulse buying

buying stuff without thinking about whether or not you need it

imcome

money earned from working and other means