Financial Vocabulary

2. Physical money, including notes and coins.
6. A legal process in which a creditor takes a portion of your paycheck to collect a debt.
10. A transfer of money by one party to another with an agreement to pay it back.
15. The person you legally designate to receive the benefits from your financial products.
16. What you spend.
18. Amount owed for funds borrowed.
19. Document on which you write an amount of money and who it is to be paid to.
20. Personal Identification Number
21. Total revenue minus total expenses.
23. Allows you to purchase now with the intent to pay it back later.
25. Free Application for Federal Student Aid
26. A mandatory payment or charge collected by local, state, and national government to cover cost of general government services, goods, and activities.
27. Any resource owned or controlled by a business or an economic entity.

1. A spending plan based on income and expenses.
3. A portion of income not spent on current expenses, usually set aside.
4. An agreement between you and a lender to borrow money to purchase a home.
5. A check given to employees for work completed.
7. The amount of money a lender or financial institution receives for lending out money.
8. Giving money with the expectation of making a profit.
9. The act of taking money out of a bank account.
11. Government funding for ideas and projects to provide public services and stimulate the economy.
12. To obtain something by paying money or other asset.
13. When you spend more money than you have in an account.
14. What you earn.
17. Money that you originally agreed to pay back
22. Money placed into a deposit account at a banking institution.
24. To pay a fixed fee to use something, such as property, land, or an automobile.