MoneyU Glossary of Terms
MoneyU Glossary of Terms
Browse the glossary using this index
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An organized trading place (physical or electronic) on which securities may be purchased and sold by members. Individuals usually have access to a market through a brokerage or securities firm.
The chance of losing money on an investment because the price of the asset changes.
An amount that an employer may pay into a retirement account, such as the TSP, based on a percentage of the amount that the employee contributes.
Medical Power Of Attorney
A power of attorney that grants powers to make medical decisions for the principal.
The minimum amount you are required to pay the credit card issuer each month. You may, however, choose to pay more. Paying the minimum monthly payment may be helpful when you can only afford to make a small payment. However, interest charges can really add up when you stretch out a loan with minimum payments.
Anything that is generally accepted as payment for goods and services; a medium of exchange; legal tender.
Money Market Deposit Account (MMDA)
(MMDA) an interest-bearing account that allows you to write checks. An MMDA usually pays a higher rate of interest than a checking or savings account. MMDAs usually require a higher minimum balance to start earning interest, and often pay higher rates of interest for higher balances. You are generally limited to six transfers per month to another account or to other parties, and only three of these can be by check. Most institutions charge fees with MMDAs.
Money Market Mutual Fund
A highly liquid investment that pays a short-term rate of return.
A document signed by a borrower when a home loan is made that gives the lender the right to take possession of the property if the borrower fails to pay off the loan.
An investment security for which a state or local government promises to pay an amount at maturity (usually more than five years in the future) with interest, in return for a current investment. Municipal bonds are generally tax-free, but not always.
Mutual Fund (Open-End)
A type of investment that pools the money of many individuals and acquires a portfolio of securities that is owned proportionally by each investor.
An investment tool that pools the money of many shareholders and invests it in a diversified portfolio of securities, such as stocks, bonds, and money market assets.