Tuesday, May 21, 2024, 3:09 AM
Site: Financial Beginnings
Course: Financial Beginnings (Home)
Glossary: Module Resources
B
BANKSFor-profit companies that pay taxes and serve to make its owners a profit. |
BOND A loan made, typically to a corporation or governmental entity, and provides a fixed income to the investor. |
BUDGETA spending plan that accounts for your sources of income and all of your monthly annual expenses, as well as your future needs and possibilities. |
C
CASH FLOWMoney flowing in and out. |
CHECKA piece of paper that you write out to indicate how much you want to pay someone. |
CHECKING ACCOUNTA deposit account held at a financial institution that allows withdrawals and deposits. |
ChexSystems®A consumer credit reporting agency that provides data related to how a consumer has handled deposit accounts. |
COLLATERAL Collateral is an asset pledged by a borrower to secure a loan or other credit. |
COLLISION COVERAGEIs a no-fault coverage which pays for damages to the insured’s vehicle when in a collision. |
COMPOUND INTERESTInterest earned on the original investment, plus interest earned on interest added to the investment. |