Chapter 02 - Saving Flashcards
1
Q
Five hundred dollars in readily available cash to be used only in the event of an emergency, the goal of the first foundation.
A
Emergency Fund
2
Q
Interest paid on interest previously earned - credited daily, monthly, quarterly, or semi-annually
A
Compound Interest
3
Q
Saving money over time for a large purchase.
A
Sinking Fund
4
Q
The five steps to financial success.
A
Five Foundations
5
Q
Percentage paid to a lender for the use of borrowed money (in debt), or the percentage earned on invested principal (in investing)
A
Interest Rate
6
Q
A
