Budget
A plan for how to save and spend your income
Rate of return
How much profit you make on an investment
Aggressiveness
An aggressive investing position will give you larger returns when the market does well but larger losses when the market does poorly
Delivered positive returns
three-quarters of the time. In positive years, it was up an average of 21 percent, and in the bad years, it was down 14 percent.
Checking account
A bank account from which are for immediate expenses
Minimum balance
amount of money you must keep in the account in order to avoid fees
Overdraft
where you withdraw more money than is in your account
Interest
is a fee paid when money is borrowed
Cosigner
person who will assume responsibility for the loan if you default, will be needed
Credit report
Statement by a credit bureau that details a consumers credit record
Credit
Practice of buying good and services no and paying for them in the future
Loan
Money borrowed that must be replaced with intrest
Depreciate
decrease in value quickly
Premium
an amount to be paid for an insurance policy.
Deductible
Amount you pay before insurance begins paying
Co-pay
Amount you must pay each time you receive health care under your policy l
Claim
A request for payment
Filing status
based on your marital status and whether you have any dependents
Taxable income
the amount of income subject to taxation after all exemptions and deductions
Mortgage
Loan from the bank to use on a home