Econ U4 Personal Finance Vocab

The act of not repaying borrowed money

Period Where Stock Prices move down for several months or years in a row

Money paid regularly at a particular rate for use of money lent.

Loans to help pay for higher education that do not accrue interest while you are in school.

Money received for college based on merit determined by the scholarship-giver.

An amount you have to pay before insurance starts to pay.

A tax-deferred investment and savings plan that acts as a personal pension fund for employees

A form of financial aid that does not usually get repaid.

Tax levied on the wages, salary and other income of an individual.

Stocks

Income reserved for later use and typically held by a financial institution.

State or local tax levied on a product at the time of sale.

Profit on the sale of an asset held for 12 months or longer.

Regular payments charged for an insurance policy

Strategy of holding different investments to minimize risk.

A market that has been consistently going up in value.

Refinancing by taking out one loan to pay off many other loans.

A policy providing protection against a possible eventuality.

An estimate of income and expenditures in a given time period.

A calculation of the cost of an action and its benefits.