Chapter 1 Vocab Flashcards
1
Q
Amoral
A
Without moral standards or principles
2
Q
Baby Steps
A
The seven steps to a healthy financial plan
3
Q
Compound interest
A
Interest paid on the ever increasing total of principal and interest
4
Q
Emergency fund
A
Money that you can access quickly for an immediate need
5
Q
Interest rate
A
Percentage paid to a lender for the use of borrowed money
6
Q
Money market
A
A mutual fund or account that invest in short term of stocks are considered a very low risk
7
Q
Murphys Law
A
Anything that can happen will happen
8
Q
Pre-Authorized checking
A
System of automatic payment
9
Q
Priority
A
Status established in order of importance or urgency
10
Q
Sinking fund
A
Saving money for a specific purpose to allow interest to work for you rather than against you
