MoneyU Glossary of Terms
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The crime of using another personÔÇÖs name, credit or debit card number, Social Security number, or another piece of personal information to commit fraud.
A person's total earnings from employment, investments and dividends.
All of the places from which you receive income. This can include a summer or part-time job, your parents, scholarships, grants, student loans, and trust funds.
An annual tax that the Federal government, most states, and some local governments charge on all the money a person or company earns in an entire year.
Individual Retirement Account (IRA)
A deposit or investment account that provides tax benefits to help accumulate funds for retirement.
An upward trend in prices; the opposite of deflation.
Analyzing and organizing information for decision making.
A credit agreement that allows you to repay credit in regular payments over a specified time.
A loan that you promise to pay back by paying the same amount of money on a regular basis, usually monthly, for a specific amount of time. Student loans, home equity loans and auto loans are usually installment loans.
A risk management tool that protects an individual from specific financial losses under specific terms and premium payments, as described in a written policy document. Major types include:
Insured Deposit Account
An account at a bank or credit union that is insured against loss of up to $100,000.
A charge for borrowed money, generally a percentage of the amount owed.
Interest Bearing Account
Accounts which gain interest on the money in the account.
Money that financial institutions, governments, or corporations pay for the use of investorsÔÇÖ money.
The rate that a bank or credit issuer charges for the money it lends to you.
Dying without a will that disposes of the estate. Partial intestacy is when a person disposes of less than all of the estate by a will.
The disposition of an estate in accordance with the laws of descent and distribution.
Purchasing securities such as stocks, bonds, and mutual funds with the goal of increasing wealth over time, but with the risk of loss.
An abbreviation for a promissory note meaning ÔÇ£I owe you.ÔÇØ