Personal Finance Saving and Investing 5.01-5.02

Saving for the future by putting money aside before paying regular monthly bills.

Price paid for using someone else’s money.

Businesses that provide financial services such as checking and savings accounts.

A account that usually has minimum balance requirements and tiered interest rates.

The purchase of goods and services

An account that allows quick access to funds for transactions.

How quickly and easily assets can be accessed and converted into cash.

Portion of income not spent on consumption.

Cash set aside to cover the cost of unexpected events.

An account that is designed to hold money not spent on current consumption.

Earning interest on interest.

Money available now (today) is worth more than the same amount if received in the future.

Account  that is used for a fixed period and allows restricted access to the funds deposited.

The original amount of money saved or invested.