An account such as an IRA or 401(k) that helps an individual set aside money for retirement. They say there won't be any Social Security when you retire so you should put money in these.
The overall increase in the cost of products and services over time. In 1945 a gallon of milk cost 62 cents.
The rate at which a borrower pays interest for borrowing an item or money; or the percentage rate earned on a given investment. If you take out a loan or get a credit card, pay attention to this number.
A United States government agency that is responsible for the collection and enforcement of taxes. Make sure you open any mail you get from these guys.
A contract outlining the rental terms of a piece of property, whether a car, an apartment or another space. Always read the fine print.
An amount borrowed that remains unpaid, excluding interest. Your goal should always be to pay this down on top of the interest.
A specific amount of money that a bank or credit union requires in order to open or maintain a particular account. You need these to usually open a bank account.
The smallest amount that a consumer is required to pay toward a credit card balance monthly in order to keep the account in good standing. This amount is simply the interest on your credit card, always pay more than this.
A loan secured in order to purchase property. You'll need one of these to buy a home.
A form that outlines an individual’s earnings, and tax deductions incurred. You'll get these from your employer every year.
Investments in which the investor has partial ownership of a company. Instead of just buying a sneaker, buy some of these so you can own some of the company.
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