Fin lit vocab Alexis

1. a not-for-profit financial institution that accepts deposits, make loans, and provides a wide range of other financial services and products.
3. the ability to borrow money with the promise that you’ll repay it in the future, often with interest.
6. value of money the concept that a sum of money is worth more now than the same summ will be at a future date due to its earning potential in the interim
8. the spreading of your investments both among and within different asset classes
10. the yearly interest and fees paid on debt
13. a paymentcard that deducts money directly fro your checking account
16. a prediction of your credit behavior, such as how likely you are to pay a loan back on time.
18. individuals who buy and sell stocks and other securities for retail and institutional clients, throught a stock exchange or over the counte, in return for a fee or a commission
19. yourself first a personal finance strategy that prioritizes saving and helps limit spending
23. a is summary credit history
24. (CD) a type of savings accounts offered by banks and creait unions
25. the state of being completely lacking in particular quality or value

2. needs are the things you can’t get by without and wants are things not necessary
4. a cash reserve that’s specifically set aside for unplanned expenses or financial emergencies
5. the price paid for borrowing money
7. a way to manage your risk
9. the money that you originally agreed to pay back
11. money or value that an individual or business entity receives in exchange for providing a good or service through investing capital
12. how likely you are to borrower ia s to pay back a line of credit.
14. Money that is owed or due
15. is ping the practice of comparing the price of products or services from different vendors before buying.
17. when money is given to another party in exchange for repayment of the loan principal amount plus interest
20. an estimate of income and expenditure for a set period of time
21. a useful or valuable thing, person, or quality
22. company or individual who fails to make payments or interest payments on time