Money Meanings

B
Bank Product

Services and tools offered by a bank to help manage your money....

Balance Transfer/ˈbaləns 'transˈfər/

The act of moving existing debt, or a “balance,” from one credit card or loan to...

Bank | Definition/bangk/

A financial establishment that invests money deposited by customers, pays it out...

Bond | Definition/baand/

A bond is a fixed financial instrument that companies and governments use to rai...

Bank Deposit/baNGk dəˈpäzət/

A bank deposit is where money is held at a financial (banking) institution for p...

Bank Transfer/baNGk transfər/

The act of transferring electronic funds from one bank account to another bank a...

Black Tax | Definition/blak taks/

Many people of color, members of immigrant families, and first-generation colleg...

Beneficiary/ˌbenəˈfiSHēˌerē/

a person who receives money from a trust, will, or life insurance policy after a...

Bitcoin/ˈbitˌkoin/

Bitcoin is a peer to peer digital currency that makes use of a public ledger to ...

C
Creditworthiness/kreh·duht·wur·thee·nis/

A valuation performed by lenders that determines the possibility a borrower may ...

Checking Account/cheh·kuhng·uh·kawnt/

A checking account is a deposit account held at a financial institution (bank) t...

Co-Signer/kow·sine·er/

A co-signer is someone who agrees to sign a loan with another person and becomes...

Credit Card/kreh·duht·kaard/

A credit card is a card issued by a financial company giving the holder an optio...

Certificate of Deposits (CD)/ser·tif·i·keit·uhv·duh·paa·zuht/

A savings certificate with a fixed maturity date, specified fixed interest rate ...

Collections Definition/kuh·lek·shnz/

A debt or account that has not been paid on time....

Compound Interest | Definition /ˈkämˌpound ˈint(ə)rəst/

Compound interest is when you earn interest on both the money you have saved and...

Credit Definition/kreh·duht/

Credit is a contractual agreement in which a borrower receives something of valu...

Check/CHek/

A check is a bank issued document that orders a bank to pay a specific amount of...

Commingling Funds | Definition /kəˈmiNGɡ(ə)ling fənds/

Mixing your business funds with your personal funds....

Cryptocurrency | Definition/ˈkriptōˌkərənsē/

decentralized digital money, based on blockchain technology; secured by cryptogr...

Currency/ˈkərənsē/

a type of financial commodity that is used by a country to purchase different ty...

Custodian | Definition

a person or financial institution who has access to your financial assets and is...

ChexSystems | Definitionchek · si · stmz

a nationwide specialty consumer reporting agency under the federal Fair Credit R...

D
Debt-to-Income (DTI) Ratio

a calculation that determines the percentage of your gross income that goes towa...

Deposit slip/duh·paa·zuht·slip/

A deposit slip is a small written form that is sometimes used to deposit funds i...

Deferment | Definition

For federal student loans, allows you to stop making payments. When loans are ...

Debit Card/deh·buht·kaard/

a payment card that deducts money directly from a consumer’s checking account to...

Diversification/dəˌvərsəfəˈkāSH(ə)n/

a risk management strategy that combines many financial securities within a port...

Disposable Income | Definition /dəˈspōzəbəl ˈinˌkəm/

The remaining amount of money that is available to spend after deducting all nec...

Dividend Yield | Definition/ˈdivəˌdend ˌyēld/

the excess cash a public company pays per share to its shareholders. ...

Dividend Reinvestment Plan (DRIP) | Definition /ˈdivəˌdend rēinˈvestmənt plan/

automatically reinvests dividends earned from a company to earn more shares over...

I
Interest/in·tr·uhst/

Interest is the charge for the privilege of borrowing money, typically expressed...

Investment | Definition/uhn·vest·muhnt/

An investment is an asset or item that is purchased with the hope that it will g...

Internship | Definition /ˈinˌtərnˌSHip/

the position of a student or trainee who works within an organization or company...

Insurance | Definition /inˈSHo͝orəns/

coverage by a contract protecting against a possible loss or eventuality....

Index Fund | Definition/ˈinˌdeks fənd/

tracks the performance of stocks within an index, such as the S&P 500; a  portfo...

Investment Firm/inˈves(t)mənt fərm/

a corporation that pools money from the public and purchases different types of ...

Investment Account/inˈves(t)mənt əˈkount/

a type of financial account that contains a deposit of funds and/or securities t...

Individual Retirement Account (IRA) | Definition

a type of retirement savings account ...

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