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Individual U.S. Income tax return; generally required to be filed by April 15 to report income for the previous year. Form 1040 is the long form, which must be used by taxpayers who itemize deductions or have high incomes. Form 1040A is limited to those who have less than $50,000 of taxable income and limited income sources and do not itemize deductions. Form 1040EZ is the easiest to complete, but may be used only by single people claiming only themselves as a personal exemption, with income only from wages, salaries, and tips, and no more than $400 of interest income.

The 1040 form has several "schedules" with which individuals can declare their deductions, adjustments, and other sources of income. The 1040 form has two pages: the first page figures the income and also any adjustments to income; the second page of the 1040 form records taxes due, deductions, credits, and payments already made toward one's tax liability. A 1040 form can be amended by filling out a 1040X form.

The APR measures the cost of credit expressed as a yearly interest rate.

An amount of money you owe to banks or credit issuers. It is the percentage of your income that goes to paying your debts every month. Debt ratio usually gives a clear picture of your overall financial well-being. To calculate your debt ratio, first add up all your monthly income including take-home pay (after taxes), Social Security or disability benefits and alimony. Then add up all your monthly payments for interest bearing loans and accounts, such as mortgages, student loans, credit cards and car loans. If you rent your home, include that amount, but do not include utilities and telephone charges because they can vary on a monthly basis. Finally, divide your monthly payments by your income. Multiply the result by 100 and that number is your debt ratio percentage.

A low ratio is under 20%, which means that you are in good financial health and are doing a good job of managing your money.

A moderate ratio is between 21% and 40%. This means that you should look carefully at your monthly payments and start decreasing your overall level of debt, including credit cards.

A high debt burden is over 40%. You should immediately stop accumulating debt and start looking for ways to decrease your debt or increase your income.

The employer guarantees that the employee will receive a definite amount of benefit upon retirement, regardless of the performance of the underlying investment pool.

The quantities of a particular good or service that consumers are willing and able to buy at differ­ent possible prices at a particular time.

The ability to use knowledge and skills to manage oneÔÇÖs financial resources effectively for lifetime of financial well-being.

In the financial world, obligation refers to an outstanding debt that a party must still repay - and if they do not pay, they default on the debt.

Personal financial planning is the process of (a) setting goals, (b) developing a plan to achieve them, and (c) putting the plan into action. Ongoing thinking process to develop an orderly program or blueprint for handling all aspects of oneÔÇÖs money, including spending, credit, saving, and investing.

A loan or mortgage with an interest rate that will remain at a predetermined rate for the entire term of the loan.

The crime of using another personÔÇÖs name, credit or debit card number, Social Security number, or another piece of personal information to commit fraud.

Money that financial institutions, governments, or corporations pay for the use of investorsÔÇÖ money.

An abbreviation for a promissory note meaning ÔÇ£I owe you.ÔÇØ

Protects the insured party from othersÔÇÖ claims of loss due to the insuredÔÇÖs alleged or actual negligence or improper actions.

Essentials or basics necessary for maintaining physical life, including food, clothing, water, and shel­ter, sometimes called material well-being.

A type of retirement plan, usually tax exempt, wherein an employer makes contributions toward a pool of funds set aside for an employee's future benefit. The pool of funds is then invested on the employee's behalf, allowing the employee to receive benefits upon retirement. There are two main types of pension plans: defined-benefit plans and defined-contribution plans.

Human resources are those resources people have within themselves, such as working knowl­edge, skill, mental effort, motivation, energy. Non-human or external resources include money, time, and equipment.

An economic condition created by an excess of human wants over the resources necessary to sat┬¡isfy them; an inability to satisfy all of everyoneÔÇÖs wants.

The federal governmentÔÇÖs basic program for providing income when earnings are reduced or stopped because of retirement, or disability. Income is also provided to families when the working parent(s) dies and underage children are a part of the family.

A compulsory payment by individuals/organizations to the government; fees placed on income, prop­erty, or goods to support government programs.

Working to help others or oneÔÇÖs community without being paid.

Increasing the total value of what one owns; oneÔÇÖs tangible assets using strategies to increase savings and personal asset accumulation, thereby promoting individual/family economic well-being and financial security.

If you have no previous outstanding balances on your card account, and no new activity that month, this means that you have a zero balance. You might not get a bill since you do not owe anything.