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"Financial literacy is the education & understanding of knowing how money is made, spent, & saved, as well as the skills & ability to use financial resources to make decisions. These decisions include how to generate, invest, spend, & save money." (MyAccountingCourse 2020)
"Financial literacy is the education & understanding of knowing how money is made, spent, & saved, as well as the skills & ability to use financial resources to make decisions. These decisions include how to generate, invest, spend, & save money." (MyAccountingCourse 2020)
Some Basic Terms:
Asset:
An item with economic value, such as stock or real estate.
Budget:
A plan that outlines what money you expect to earn or receive (your income) & how you will save it or spend it (your expenses) for a given period of time.
Asset:
An item with economic value, such as stock or real estate.
Budget:
A plan that outlines what money you expect to earn or receive (your income) & how you will save it or spend it (your expenses) for a given period of time.
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Capital gain:
The profit that comes from selling an investment for more than you paid for it.
Capital loss:
The loss that comes from selling an investment for less than you paid for it.
Capital gain:
The profit that comes from selling an investment for more than you paid for it.
Capital loss:
The loss that comes from selling an investment for less than you paid for it.
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Comparison Shopping:
The practice of comparing prices, features, benefits, risks and other characteristics of two or more similar products or services
Consumer:
A person who buys or receives goods or services for personal needs or use, and not for resale
Comparison Shopping:
The practice of comparing prices, features, benefits, risks and other characteristics of two or more similar products or services
Consumer:
A person who buys or receives goods or services for personal needs or use, and not for resale
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Dividend:
A portion of a company& #39;s profit paid to share holders
Inflation:
This occurs when the prices of goods & services increase over time
Investment:
Something you spend your money on that you expect will earn a financial return.
Dividend:
A portion of a company& #39;s profit paid to share holders
Inflation:
This occurs when the prices of goods & services increase over time
Investment:
Something you spend your money on that you expect will earn a financial return.
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Liability:
Something that is a disadvantage, money owed, or a debt or obligation according to law
Liquidity:
A measure of the ability and ease with which you can access and use your money.
It is based on the ability to easily turn assets or investments into cash
Liability:
Something that is a disadvantage, money owed, or a debt or obligation according to law
Liquidity:
A measure of the ability and ease with which you can access and use your money.
It is based on the ability to easily turn assets or investments into cash
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Share:
A unit of ownership, often in a companies stock or in a mutual fund
Stock:
A type of investment that gives people a share of ownership in a company
SMART Goal:
A goal that is Specific, Measurable, Attainable, Relevant & Timebound
Share:
A unit of ownership, often in a companies stock or in a mutual fund
Stock:
A type of investment that gives people a share of ownership in a company
SMART Goal:
A goal that is Specific, Measurable, Attainable, Relevant & Timebound
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Supply:
How much of a product is available to buy at any given time
Tariff:
A tax on products imported from foreign countries. This tax can increase the cost of those products, which can be passed on to consumers as higher prices
Supply:
How much of a product is available to buy at any given time
Tariff:
A tax on products imported from foreign countries. This tax can increase the cost of those products, which can be passed on to consumers as higher prices
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The most important
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Profit:
Money that is made in a business after all the costs and expenses are paid
(CFPB 2020)
Add to this thread, all things Financial Literacy...
The most important
Profit:
Money that is made in a business after all the costs and expenses are paid
(CFPB 2020)
Add to this thread, all things Financial Literacy...
