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30 Cards in this Set
- Front
- Back
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Tax audit |
A detailed examination if your tax return by the IRS |
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Security Deposit |
An amount of money paid to the owner of the property by a tenant to guard against any financial loss or damage that the tenant might cause |
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Discretionary Income |
The money left after paying for essentials, such as food, clothing, shelter, transportation and medication. |
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Insurance |
Protection against possible financial loss |
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Diversification |
The process of spreading you assets among several different types of investments to reduce risk |
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Premium |
The fee a policyholder pays for insurance |
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Service contract |
A seperately purchased agreement by the manufacturer or distributor to cover the costs of repairing an item |
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Impulse buying |
Purchasing items on the spur of the moment |
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Standard deduction |
An amount of money set by the IRS that is not taxed |
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Certificate of deposit |
A savings alternative in which money is left on deposit for a stated period of time to earn a specific rate of return |
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Fraud |
Dishonest business practices that are meant to deceive, trick, or gain an unfair advantage |
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Potential earning power |
The amount of money you may earn over time |
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Endorsement |
The signature of the payee, the party to whom the check has been written |
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Assets |
Items of value that an individual or company owns, including cash, property, personal possesions, and investments |
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Compounding |
The process in which interest is earned on both the principal and on previously earned interest |
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Goal |
Things you want to accomplish |
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Income tax |
Tax on wages, salaries, and self-employed earnings |
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safe deposite box |
a small, secure storage compartment that you can rent in a bank |
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Internship |
A position in which a person receives training by working with people who are experienced in a particular field |
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Bank reconciliation |
A report that accounts for the differences between the bank statement and your cheeckbok balance |
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Career |
A commitment to work in a field that you find interesting and fulfilling |
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Warranty |
A written guarantee from the manufacturer or distributor that states the conditions under which the product can be returned, replaced, or repaired |
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Equity |
The value of the home less the amount still owed on the money borrowed to purchase it |
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Interest |
The price that is paid for the use of another's money |
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Mobility |
The ability to move easily form place to place |
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Credit |
An arrangement to receive cash, goods, or services now and pay for them in the future |
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Federal reserve system |
The central banking organization of the US |
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Appraisal |
An estimate of the current value of the property |
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Values |
Beliefs and principles you consider important, correct, and desirable |
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Resume |
One or two page summary of your education, training, work experience, and qualifications |
