MoneyU Glossary of Terms

MoneyU Glossary of Terms

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Personal Identification Number (PIN)

The number used as an access code to ATMs or debit machines.

Present Value

Money, expressed in today's dollars.


Accumulating funds by delaying or foregoing consumption.

Savings Account

With savings accounts you can make withdrawals, but you do not have the flexibility of checks. Various fees, such as minimum balance fees, may be charged on savings accounts.

Savings Bond

A promise by the U.S. government to repay principal and a return in the future. The return may be based on government note rates or on the rate of inflation plus a small fixed rate. Savings bonds are available for as little as $25.

Totten Trust

A savings account that allows the depositor to open the account as trustee for someone else (no real trust is set up). Account owners may use the funds as they see fit during their lifetime, and then upon their death the account balance is paid to the named beneficiary.

Transaction Date

The date a purchase is made or cash is withdrawn. Some companies assess interest from the transaction date, others from the posting date.

Transaction Fee

An extra charge for various credit activities, such as using an ATM or receiving a cash advance.


401K Plan

A 401K plan is established by your employer as a way for you to save money for your retirement. It's generally funded with money from your paycheck (before it's taxed by the government) and sometimes, from matching contributions from your employer. This total amount is deposited into a mutual fund. That money, plus any future financial growth from investing, isn't taxed until you take the money out.


What a person owns, such as cash, stocks, bonds, real estate, savings, or investments, and any personal possessions that can be turned into cash.

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