Personal Finance

"A ton of money" is a slang term for "a lot of money."
An abacus is a counting device that performs basic mathematical functions.
An account balance is a statement of how much money is in an account.
Also called an account hold, an account freeze occurs when a bank or other financial institution prevents any transactions from hitting an account.
Also called an account freeze, an account hold occurs when a bank or other financial institution prevents any transactions from hitting an account.
The adjusted balance method determines the finance charges on an account once all credits and debits for the accounting period have been posted.
Alimony is a series of payments made to an ex-spouse or separated spouse according to a divorce decree or separation agreement.
An amortization schedule is a complete table of periodic loan payments over the term of a loan. It shows the amount of principal and the amount of interest that make up each payment. 
An appraisal is an estimate of the market value of an item by a certified professional.
ACH, which stands for or Automated Clearing House, is a fund transfer system operated by NACHA, the National Automated Clearing House Association.   Launched in 1974, ACH is used for a wide range of
An automatic investment plan (AIP) is a strategy whereby an investor can arrange for funds to transfer into an investment account automatically on a regular basis.
Back up the truck is slang for bullish sentiment about a market or security.
A bad check is a check written on an account that doesn't have enough funds to cover the amount of the check.
Balance reporting is the act of communicating the balance in an account.
A balanced investment strategy is a method of portfolio allocation.
A ballpark figure is an estimate.
A bank card is a plastic card issued by a financial institution that allows the user to make purchases with funds either borrowed from or held at that financial institution.
Bank debits are reductions in customer accounts.
In the finance world, a bank deposit is the placement of funds in an account with a bank.
A bank identification number (BIN) identifies and verifies parts of a bank transaction.
Belt and suspenders is a term to describe a risk-averse person or situation. The term refers to the act of wearing redundant items to hold up a pair of pants.  
When a check is refused by a bank and returned to the person who wrote it due to insufficient funds, it is called a bounced check.
A broker is a person or a company that acts as an intermediary between buyers and sellers. Brokers exist not just in the financial markets, but in the real estate market, the commodities market, the art
A caisse populaire is a Canadian financial institution that is owned and controlled by its members rather than shareholders. It is essentially a credit union. Most are in Quebec.
A canceled check is a check that has cleared or prevented from clearing.
A cancellation bulletin is a list of credit cards that are reported stolen, canceled or compromised in some way. 
A cash advance is a high interest loan typically taken out on a credit card or a line of credit from a bank. Interest on a cash advance begins accruing immediately upon disbursement.
A cashier's check is a check that guarantees the availability of the underlying funds because it is drawn upon and issued by the bank itself.
A certified check is a check for which the issuing bank guarantees payment.
Certified Financial Planner (CFP) is a professional designation attained by a financial planner or advisor who has successfully completed the requirements set by the Certified Financial Planner Board. 
Relatively new to the financial planning and advice sector, a Certified Kingdom Advisor (CKA) is a professional certification for financial advisors who work with clients who take a Christian values based
A chargeback protects cardholders from unsatisfactory sales and service by letting the cardholder demand a "refund" directly from the credit card issuer. If a customer successfully disputes a credit card
Checkable deposits are bank accounts against which checks can be drawn. There are different types of checkable accounts offered by retail banks and credit unions: deposit accounts, interest-bearing
Banks offer different types of savings accounts any time of year. A way to save money toward holiday shopping and seasonal spending is a Christmas Club account. It is marketed to savers as an incentive to
The College Work Study Program (CWSP) is a type of financial aid that a school awards to a student who has completed a FAFSA and has demonstrated a financial need. The student is given a job (usually on-
A conservatorship is the legal establishment of a court appointed manager for the personal and financial affairs of someone who is legally incapacitated, also referred to as a ward. The ward may be
Consignment is an agreement between an owner and a third-party consignee whereby the consignee agrees to sell the owners goods in exchange for a fee. 
Contactless payment technology allows transactions through a chip embedded in payment cards, tags, key fobs, or mobile phones. A chip or QR code communicates with a reader device using radio frequency or
A credit card balance is the total amount of money owed on a credit card account. Whenever a purchase is made, the balance increases. Conversely, whenever a payment is made, the balance decreases. The
A credit union is a financial institution that is owned and controlled by its members rather than shareholders. The members of the credit union pool their deposits and provide loans and other financial
In finance, to dehedge is to engage in an investing strategy that does not protect an investment or portfolio against loss. It usually involves securities that move in the same direction.
A demand deposit is an account with a bank or other financial institution that allows the depositor to withdraw his or her funds from the account without warning or with less than seven days' notice.
The deposit interest rate is the rate of interest earned on a deposit account held by a depositor at a bank or savings institution. Common types of deposit accounts include savings accounts, interest-
Direct deposit refers to the electronic transfer of a cash payment into the recipient's bank account.
Discretionary income is the income left over after paying taxes and normal living expenses.
Disposable income, also known as net pay, refers to the income that’s left for personal spending after direct taxes, such as federal and state income taxes, have been accounted for. It is a key concept in
Early withdrawal refers to a depositor's or investor's withdrawal of funds from an account before the agreed-upon withdrawal date. Early withdrawals usually incur penalties.
Earning potential often refers to the top salary for a particular field or profession. In the finance world, the meaning is not much different: earning potential is the biggest profit a company could
An education IRA, also referred to as a Coverdell Education Savings Account (or Coverdell ESA), is a tax-advantaged savings account intended to help parents and guardians prepare for the expense of their
An electronic funds transfer (EFT) allows payment between two parties by using electronic signals to transfer money. The current systems of electronic funds transfer began in the 1960s but became
The expected family contribution (EFC) is the amount of money that a family is expected to contribute toward a student's college tuition or expenses in a given year.
The Fair and Accurate Credit Transactions Act (FACTA) allows consumers to get a free credit report from the three major credit reporting agencies every 12 months in order to help prevent identity theft. [
The Federal Work Study Program (FWSP) is a form of financial aid awarded to a student who has completed a FAFSA and has demonstrated a financial need. The student is given a job (usually on-campus) and is
A FICO score, created and calculated by the Fair Isaac Corporation, is a measure of an individual's creditworthiness. It is a mathematical summary of the information on a person's credit report.
A financial adviser (also spelled financial advisor) is an educated investment professional who helps people and businesses set and meet long-term financial goals.
A financial advisor (also spelled financial adviser) is an educated investment professional who helps people and businesses set and meet long-term financial goals.
A financial planner is a credentialed professional who, for a fee, assists individuals and organizations in reaching their financial goals and increasing their net worth through careful investing and
A forgivable loan is a type of loan in which some (or all) of the amount can be forgiven or deferred if the borrower meets certain conditions. Since the loan balance is waived when the requirements are
The free application for federal student aid (FAFSA) is a form filled out by college or graduate students who are eligible for government-sponsored financial aid.
Free lunch is a phrase used to describe getting something for nothing.
A frozen account refers to a situation where an individual is unable to withdraw money from a bank account due to a court order.
A full-time student is a person enrolled in a post-secondary institution of learning who is taking at least the minimum number of course credit hours according to the institution's requirements.
A person is fully vested when a financial instrument or account becomes wholly owned by the investor.
Gross earnings, also known as gross income, represents income before taxes or adjustments. In the accounting world, gross earnings are usually the same thing as gross profit (that is, revenue minus cost
Group banking is offered by some banks to incentivize a whole group of people, like employees of a company, to have a relationship with the banking institution.
A half-commission man introduces potential clients to financial advisors in return for a cut of the commissions those advisors earn from the new clients.
A hard money loan is a short-term loan that uses the value of real property owned by the borrower as its collateral.
Hard skills are quantifiable capabilities required for specific occupations. They are the opposite of soft skills.
High Earners, Not Rich Yet (HENRYs) are young, usually well educated, and highly paid but have not accumulated significant wealth yet.
A hot list is a list of credit cards that are reported stolen, canceled or compromised in some way. 
A household employee is a person who provides paid services within a private home. These services are often subject to payroll taxes.
Income is an actual or recorded inflow of cash or other assets. The term is used in many different contexts.
An investment advisor makes investment recommendations to clients and can also be known as a financial advisor.
An itemized statement is a detailed record of certain activity that has occurred in an account for a given period of time.
A joint account is any type of bank account held by two or more persons.
Joint credit is credit extended by a lender to two or more parties. Loans secured from joint credit are the responsibility of all parties.
Joint endorsement is a requirement by many banks that checks be endorsed by all parties of a joint account.
Kiasu can be good and bad. It can encourage people to persevere and create amazing results; it can also waste time and energy. In the investing world, it can create an irrational fear of losing.
Kiting is the illegal practice of exploiting settlement delays to transfer unavailable funds from one bank account to another. In the brokerage industry, kiting occurs when a securities firm fails to
A lemon is an item whose defects were not outwardly apparent at the time that it was sold to a consumer.  ”Lemon” has typically referred to a defective new car but its current application has become more
In finance, limited risk describes any investing strategy intended to protect an investment or portfolio against loss. Limiting risk usually involves securities that move in the opposite direction than
M banking is the use of a smartphone or other cellular phone to conduct tasks such as monitoring account balances, transferring funds between accounts, bill payment and locating an ATM while away from a
Magna cum laude is Latin for with great honor.
A Master of Business Administration (MBA) is a graduate degree in business.
A Master of Public Administration (MPA) is a graduate degree in public administration.
Medicare is the United States federal government health insurance program for Americans who are 65 years of age and older.
Mobile banking refers to the use of a smartphone or other cellular device to perform online banking tasks while away from your home computer, such as monitoring account balances, transferring funds
Mobile phone banking is the use of a smartphone or other cellular device to accomplish tasks such as checking account balances, transferring funds between accounts, bill payment and finding an ATM while
Money market accounts are a type of savings account that can be opened at any bank or credit union. Money market accounts usually offer higher interest rates than checking accounts and also allow
Money market accounts (also known as high-yield savings accounts) offer a safe way to earn returns on your money while still keeping access to the funds. The returns you earn are based on the money market
A mortgagee is a lender in a mortgage, usually a bank, credit union, or other lending institution. A mortgagee lends money to a borrower for the purpose of purchasing real estate (usually a house) in a
A mutual savings bank (MSB) is a type of financial institution that functions much like a bank, but with a different ownership structure. Instead of shareholders owning marketable shares, a mutual savings
A negotiable order of withdrawal account (NOW) is an interest-earning bank account in which the account holder can write checks against the balance. Most mutual savings banks, commercial banks, savings
A nest egg is a slang term describing money saved for the future.
Net proceeds refers to the amount of money remaining after an asset has been sold and related expenses have been paid.
Net worth refers to the total value of an individual or company expressed as total assets less total liabilities.
In most states, writing a bad check is at least a misdemeanor, with the consequences growing depending on the state, the amount involved, and whether the transaction crosses state lines. Most NSFs are
An offline transaction, also known as a signature debit transaction, is a payment method that uses a debit card to transfer funds from a checking account to a merchant across a digital credit card network
Online banking enables bank customers to handle account management and perform account transactions directly with the bank through the internet.  This is also known as internet banking.
An online transaction, also known as a PIN-debit transaction, is a password-protected payment method that authorizes a transfer of funds over an electronic funds transfer (EFT)
In most states, writing a bad check is at least a misdemeanor, with the consequences growing depending on the state, the amount involved and whether the transaction crosses state lines. Most overdrafts
A package deal combines several products, discounts, features or services as one transaction.
Paid-up means that all payment obligations under a contract are met.
A paper millionaire is a person who has at least $1 million of unrealized gains.
A passbook savings account is the classic name for a traditional savings account. Though it may seem quaint now, tellers record the deposits, withdrawals, and interest earned for account holders in a
Passive management is an investment strategy whereby an investor or financial advisor makes long-term investments in certain securities and is not influenced by short-term market fluctuations. The
Pay yourself first is a phrase referring to the idea that investors should routinely and automatically put money into savings before spending on anything else.
A paycation is when an employee takes paid vacation from his or her employer and works at another job.
Paycheck-to-paycheck means a lifestyle in which a person does not save money and would incur significant financial stress if he or she does not receive his or her next paycheck.
A pension plan is an arrangement to provide employees with an income when they are no longer earning a regular income from employment.
Person-to-person payments (P2P) is an online technology that allows customers to transfer funds from their bank account or credit card to another individual's account via the Internet or a mobile phone.
Personal income, aka "before-tax income," is the total annual gross earnings of an individual from all income sources, such as: salaries and wages, investment interest and dividends, employer
Personal property is a class of property that can be moved from one location to another.
A PIN-debit transaction, also known as an online transaction, is a password-protected payment method that authorizes a transfer of funds over an electronic funds transfer (EFT)
A pre-tax contribution is a payment made with money that has not been taxed.  
Price protection is an agreement between a buyer and a seller whereby the parties agree to fix the price of a good or service for a specific period of time.
The sum total of a mortgage payment is comprised of principal, interest, taxes, and insurance (PITI). The amount of principal paid, interest paid, property taxes, and homeowners insurance is broken down
Purchase protection is an agreement between a customer and a seller whereby the two sides agree to set the price of a good or service in place for a particular time period.
Quick response (QR) code is a type of two-dimensional barcode that can be read with specific QR barcode readers and most mobile phone cameras. The code is made of small black squares and rectangles that
A rain check is a written promise from a seller to a buyer. It guarantees that a buyer can purchase a product for a certain price at a later date, usually because the item is out of stock.
The term remote deposit capture (RDC) refers to a technology that uses a smartphone to make online deposits to a user's bank account without having to physically visit a branch location.
A restricted card list is a list of credit cards that are reported stolen, canceled or compromised in some way.
A safe deposit box is a metal box, usually housed in a bank vault, that customers can rent in order to keep valuables, legal documents and other prized possessions in a secure location.  
In economics, savings is the amount that is left after spending. In banking, savings refers to savings accounts, which are short-term, interest-bearing deposits with a bank or other financial institution.
A savings account is a low-risk, interest-bearing deposit with a bank or other financial institution.
Savings clubs most commonly refer to a special type of account that provides a way to regularly save for a specific goal or event. These accounts historically came with a savings passbook with coupons
Self-dealing is an illegal activity that occurs when a person or entity with fiduciary duty puts his or her own  interests ahead of a client's interests in a transaction.
A signature-debit transaction, also known as an offline transaction, is a payment method that uses a debit card to transfer funds from a checking account to a merchant across a digital credit card network
Smartphone banking is the use of a smartphone or other cellular device to perform tasks such as monitoring account balances, transferring funds between accounts, bill payment and locating an ATM while
Spousal support is a series of payments to a separated or ex-spouse according to a divorce decree or separation agreement.
Take home pay is the portion of one's salary left after all payroll taxes have been deducted.
The wealth effect is an increase in consumer spending directly proportional to strong stock portfolio performance.
A tradeline is a record of activity for a credit account. A tradeline is created on your credit report when you borrow money from a bank or lender who then reports the activity of that account to one of
A person is unbanked when he or she does not participate in the banking system and relies on the use of cash rather than checks or credit cards.
A person is underbanked when he or she does not participate in the banking system very much and instead relies on the use of cash rather than checks or credit cards. In the securities world, underbanked
Undue influence occurs when one party to a transaction is able to influence the decisions of another party to the transaction.
A vested interest is a right of ownership which is not dependent on something else.
Vesting occurs when a financial instrument or account becomes wholly owned by an investor.
A warning bulletin is a list of credit cards that are reported stolen, canceled or compromised in some way.
Commonly referred to as "The Oracle of Omaha" because of his Nebraska roots, Warren Buffett is widely regarded as the world's most prominent value investor.
A weak sister is a security, economy or operating unit that performs worse than all the others.
In the business world, wealth is a measure of financial resources.
Wealth management is an investment advisory service for high net worth individuals.
A wire transfer is a method of transferring money electronically between two people or institutions.
A withholding allowance reduces the amount of income tax an employer withholds from an employee's paycheck. 
A year-end bonus is extra money given to an employee, typically as a reward for helping the company achieve financial goals.
Yupcap stands for Young Urban Professionals Who Can't Afford Property.
Yuppie is short for young urban professional.