MoneyU Glossary of Terms


MoneyU Glossary of Terms


Browse the glossary using this index

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S

SET Protocol

Secure Electronic Transaction protocol, an encryption technology designed to allow secure electronic transactions between card issuers, merchants and consumers. Unsecured information sent over the Internet can be intercepted. When making purchases online, you should consider a secure browser that complies with industry standards, such as secure sockets layer (SSL) or secure hypertext transfer protocol (S-HTTP). These often are included with Internet connection services.

Settlor

Same as grantor.

Share Purchase Plans

An arrangement in which you can buy stock directly from a corporation, usually at a lower cost and for lower amounts than through a brokerage firm. If the stock pays a dividend, reinvestment is offered. This is similar to a DRIP, but this arrangement allows you to buy your first share directly.

Shipping and Handling

The costs of processing and transporting a product to a customer.

Signs of Trouble

Situations or events that suggest you may be having financial difficulty. For example, a sign of trouble could be that you use your credit card to pay for groceries because you have no money in your checking or savings account. Other signs of trouble include paying only the minimum due on your credit cards, using one credit card to pay the monthly minimum on another card and routinely having "maxed out" credit cards.

Simple interest

Interest calculated periodically on loan principal or investment principal only, not on previously earned interest.

Smart Card

A card containing a Central Processing Unit (CPU) that stores and secures information and makes decisions, as required by the card issuer's specific application needs.

Social security

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.

Social Security Taxes

Social Security taxes are paid to Old Age Survivors and Disability Insurance (OASDI) and Medicare. For 2006, employee and employer each pay 7.65% of the first $94,200 of the employee's salary as Social Security taxes. For any additional income, employee and employer each pay 1.45% to Medicare. Self-employed persons pay 15.3% of their first $94,200 in salary to Social Security taxes in 2006. For higher incomes, they pay 2.9% to Medicare.

Spending Plan

A budget you use to track your income and expenses.

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