MoneyU Glossary of Terms


MoneyU Glossary of Terms


Browse the glossary using this index

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R

Right Of Survivorship

An arrangement that provides that when one party to a joint account dies, the other party inherits the balance.

Risk management

Deliberately and systematically using various strategies for controlling against potential personal or financial loss from pure risks.

Risk Tolerance

The amount of market and credit risk that an individual is willing to take on in pursuit of a higher return.

Risk-investment, personal, insurance

The probability of making a profit or losing money on one's investment; the chance an investment will decrease in value; possible losses involving income or standard of living. The possibility of a loss from perils to people or property covered by insurance.

Rule of 72

Method for estimating an investment's doubling time. 72 is divided by the interest percentage per year to obtain the approximate number of years required for doubling.

S

Salary

Money you make for working a job.

Sales Tax

What your state or local government charges you when you buy a good or service. It's typically a percentage of the cost you pay. While an income tax charges the money you earn, the sales tax charges money you've spent. States that charge sales tax typically charge 4 to 7 percent of the item's cost.

Savings

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.

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