SPS Final Flashcards
management of money
finance
detailed summary about your income and expenses
budget
amount of money you spend
expenses
things you need to live
need
things you don’t have, but want
want
immediate access to funds for a short term need
liquidity
borrowing money with interest
loan
a paper document saying how much money you deposited into what account
deposit
offering to lend money
credit
a price for a service or commodity that includes all extra costs incidental to the item
unit price
an agreement to pay rent and fulfill other obligations for a certain length of time
lease
An assessment of how trustworthy you are paying bills
credit history
income after taxes and other deductions
net income
the difference between market value and the unpaid balance
equity
the lender’s charge on borrowing money
Interest rate
income before taxes and other deductions
gross income
What does the acronym APR mean
annual percentage rate
The money you borrow is the
Principle
Another term for interest and APR is
Finance Charge
bankruptcy
A situation in which a court rules that a person is not able to pay their bills
collateral
Possessions (such as a home. Car, or savings) that a borrower pledges in return for a loan
deficit spending
Spending more than you earn
insurance
The means by which people protect themselves financially against losses or liability incurred as a result of unexpected events
A contract that promises to pay for any loses
indemnity
claim
Demand for payment in accordance with the policy
Amount you must pay before the insurance company pays anything
deductible
Money paid for each doctor visit or other health services
copayments
A person who will receive insurance benefits
beneficiary
The creating of a website replica in order to trick users into submitting personal, financial or password online
phishing
Job
Work you do to make a living
Career
Chosen field of work that has the potential for growth and advancement by incorporating your interest, values, skills, and strengths to provide long term fulfillment
Networking
The process of making contacts and building relationships that can help you obtain leads, referrals, advice, information, and support
The eight distinct area of intelligence everyone possesses
visual/spatial, intrapersonal, kinesthetic, intrapersonal, verbal/linguistic, musical/rhythmic, logical/mathematical, naturalistic
holland interest environments
A technique for exploring the ways in which your interest can be grouped into job categories so you can begin to select specific career paths to investigate
visual/spatial
A multiple intelligence that includes the ability to create mental images and transform them into an art form or useful products
intrapersonal intelligence
The multiple intelligence which involves the ability to comprehend your own feelings
The multiple intelligence that relates to the ability to connect mind and body and often relates to excelling at sports
kinesthetic intelligence
The multiple intelligence that involves the ability to comprehend others feelings
interpersonal intelligence
Programs in which you can work part-time in a career field in which you are interested while taking job related courses at school
co-op programs
A school that offers courses to prepare students in specific skills to enter a technical career field
technical training program
Study at a college or university-perhaps starting at a community or junior college
higher education
A job that does not involve manual labor and for which people generally do not have to wear uniforms or protective clothing
white collar
Formal education after you graduate from college which will give you indepth knowledge about your specific career area
graduate school
The fee for instruction at a university
tuition
Legal resident of the state in which the college is located
in-state resident
An institution of higher learning that is operated and funded by the state in which it is located
public university
Student Financial aid in which you do not have to repay
scholarship
A college that is approved as meeting certain standards
accredited
Course of study
curriculum
People who have graduated from a certain school
alumni
When a student enrolls in college classes and if they earn a passing grade, they receive credit that may be applied toward their high school diploma, a college degree, or a certificate
dual enrollment/concurrent enrollment
Admission policy whereby you are informed by December weather or not you are accepted
early admissions policy
Administration policy under which the administration makes acceptance decisions as students apply
rolling-admissions policy
Participating in the course activities and assignments whenever and from wherever it is convenient during the school week
asynchronous-mode course
A list of students who will be admitted if others choose not to come
waiting list
An institution of higher learning that is operated by a private organization
public university
Widely used entrance exam that measures the academic skills and knowledge most students need for success in college
SAT
