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Personal Finance Vocabulary

Top 30 words essential for Personal Finance Knowledge
a data set by ahuskey
created December 1, 2016
COPY & EDIT
FAMILY TREE
TermDefinition
ServiceA task that a person or machine performs for you
SupplyThe amount of goods and services available for sale.
DemandThe amount of goods and services people are willing to buy
ConsumerA persona who purchases and uses goods or services
LiquidityThe ability to easily convert financial assets into cash without loss in value
Standard of LivingA measure of quality of life based on the amounts and kinds of goods and services a person can buy.
NetworkingMaking and using contacts to get job information and advice
PrincipalThe original amount of money you deposit
AnnuityThe term sometimes used for a series of equal regular deposits to a savings account.
Present ValueThe amount of money you would need to deposit now in order to have a desired amount in the future.
Future ValueThe amount your original deposit will be worth in the future based on earning a specific interest rate over a specific period of time.
InternshipA position in which a person receives training by working with people who are experienced in a particular field
Net WorthThe difference between the amount that you own and the debts that you owe.
AssetsAn item of value that an individual or company owns, including cash, property, personal possessions, and investments.
Market ValueThe price at which property would sell.
Discretionary IncomeThe money left after paying for hte essentials, such as food, clothing, shelter, transportation, and medication
LiabilitiesThe debts you owe.
MediationThe attempt by a neutral third party to resolve a conflict between a customer and a business through discussion and negotiation.
ArbitrationA process whereby a conflict between a customer and a business is resolved by an impartial third party whose decision is legally binding.
Down PaymentA portion of the total cost of an item that must be paid at the time of purchase.
Point-of-Sale (POS) transactionA purchase by a debit card of a good or service at a retail store, a restaurant, or elsewhere.
EndorsementThe signature of the payee, the party to whom the check has been written.
CompoundingThe process in which interest is earned on both the principal-the original amount you deposited-and on any previously earned interest.
Annual Percentage Rate (APR)The cost of credit on a yearly basis, expressed as a percentage.
Consumer CreditUse of credit for personal needs.
AmortizationThe reduction of a loan balance through payments made over a period of time.
Private Mortgage Insurance (PMI)A special policy that protects the lender in case the buyer cannot make payments or cannot make them on time.
Common StockA unit of ownership of a company that entitles the owner, or stockholder, to voting privileges.
Preferred StockA type of stock that gives the owner the advantage of receiving cash dividends before common stockholders receive cash dividends.
Time Value of MoneyThe increase of an amount of money due to earned interest or dividends
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