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Top Finance Terms You Should Know

Making Sense of Financial Language for Confident Decision-Making

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529 plan

529 prepaid tuition plan

A

American Banker’s Association (ABA) number

Automated Clearing House (ACH) transfer

Account number

Accounts payable

Accounts receivable

Accruals

Accrual basis

Annual return

Annuity

Amortization

APR (Annual Percentage Rate)

Appraisal

Articles of incorporation

Asset

Asset allocation

Asset value

Associate’s degree

ATM

ATM balance inquiry fee

Automatic credit or debit

B

Bachelor’s degree

Balance sheet

Balloon loan

Bank

Bank account

Bank transfer

Bankruptcy

Benefit

Bill-payment service

Bimonthly (semi-monthly)

Bloom’s Taxonomy

Bond

Bookkeeper

Bootstrapping

Borrow

Borrower

Budget

Business

Business credit report

Business credit score

Business income

Business plan

Buy

Buying plan

Buying power

C

Capital

Capital gain

Capital loss

Card replacement fee

Cash

Cash flow

Cash flow projections

Cash pickup

Certificate of deposit (CD)

Check

Checking account

Claim

Closed-loop prepaid card

Coin

Coinsurance

Collateral

College savings plan

Commission

Comparison shopping

Compound interest

Consumer

Consumer Price Index (CPI)

Copayment (or copay)

Cosigner

Cost

Cost-effective

Cost of attendance (COA)

Cost of living

Coupon

Credit

Credit card

Credit card statement

Credit history

Credit limit

Credit line

Credit score

Credit union

Credit utilization ratio

Creditor

Creditworthy

Cryptocurrency

Currency code

D

Data breach

Debit

Debit card

Debt

Debt consolidation

Debt financing

Debt-service coverage ratio

Deductible

Demand

Depository institution

Depreciation

Digital transfer

Direct deposit

Dividend

Doctoral degree

Domestic money transfer

Donate

E

Earn

Earned income

Elder financial exploitation

Emergency fund

Employer Identification Number (EIN)

Employer Identification Number (EIN) certificate

Endorse

Entrepreneur

Equity financing

Estate Tax

Exchange rate

Expected family contribution

F

FAFSA – Free Application for Federal Student Aid

Federal Income Tax

Federal minimum wage

Federal student loans

Federal Work-Study

FICA – Federal Insurance Contributions Act

FICO score

Fiat currency

Financial aid

Financial capability

Financial emergencies

Financial goals

Financial information

Financial institution

Financial statement

Financial transaction

Financial well-being

Fiscal year

Fixed assets

Fixed expenses

Fixed interest rate

Floating interest rate

Foreclosure

Foreclosure relief scam

Foreign transaction fee

Form W-4: Employee’s Withholding Allowance Certificate

Franchise agreement

Fraud

G

Gig

Gig economy

Given period

Goods

Government benefits card

Grace period

Grant

Gross income

Gross profit

Guarantor

Health savings account

Homeowner's insurance

I

Identity theft

Imposter scam

Impulse purchase

Inactivity fee

Income

Income statement

Income tax

Individual Taxpayer Identification Number (ITIN)

Inflation

Installment loan

Insurance

Insurance company

Insured

Insurer

Intangible asset

Interest

Interest amount

Interest capitalization

Interest rate

Interest payment

Interest Revenue Service (IRS)

International Bank Account Number (IBAN)

International money transfer

Invest

Investment

Invoice factoring

Invoice financing

Irregular income

Issuer

J

Job

M

Mail fraud scam

Market value

Masters degree

Maturity date

Medicaid

Medicare

Merchant cash advance

Microloan

Minimum payment

Minimum wage

Mobile banking

Mobile wallet

Money

Money market deposit account

Money order

Money transfer

Money transfer fees

Moral hazard

Mortgage

Mutual fund

N

Needs

Net income

Net worth

O

Occupation

Online banking

Online or mobile bill payment

Open-loop prepaid card

Opportunity cost

Out-of-pocket cost

Overdraft

P

Paper check

Password

Pay period

Payable

Paycheck

Payroll card

Payroll tax

Personal guarantee

Personal Identification Number (PIN)

Phishing scam

Policy

Policyholder

Premium

Prepaid card

Prepayment

Prepayment penalty

Principal

Private student loans

Profit

Profit & loss statement

Proof of address

Property tax

Protect

Public college or university

Public service announcement (PSA)

Purchase price

R

Raise

Rate of return

Real estate

Rebate

Receivable

Reconcile

Regular income

Remittance

Remittance rates

Repayment

Retained earnings

Retirement plan

Return

Revolving line of credit

Risk

Routing number

S

Salary

Sales tax

Save

Savings

Savings account

Savings goal

Scam

Scholarships

Secured credit card

Secured loan

Security

Sending limit

Services

Share

Short-term

Short-term goals

Side hustle

SMART goals

Social Security

Social Security number

Specified period

Spend

Spoofing

State income tax

Statement of cash flow

Stock

Stock market

Student aid report

Student bank account

Student loan servicer

Subscription

Supply

T

Tariff

Tax deduction

Tax lien

Tax refund

Tax-related identity theft

Taxes

Term

Term loan

Tip

Tip income

Transaction fee

Transfer fee

Transfer speed

U

Unauthorized use

Unbanked

Underbanked

Unearned income

Unsecured loan

U.S. savings bond

V

Valuation

Value

Variable expenses

Virtual currency

Void

Volunteer

W

Wage