A retirement account similar to a 401(k) plan, but offered by non- profit organizations, like universities or charitable organizations.

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1 EverFi Financial Literacy TM Teacher Resources Course Glossary This document lists all the glossary terms & definitions found in the EverFi Financial Literacy online course. Students can also print and access these terms in- course by clicking on the Glossary icon on the left- hand menu bar. # 1040 A tax form filled out by an individual and filed with the IRS that determines the amount of income tax owed in a single year. 1040EZ A tax form, similar to the 1040, filled out by an individual and filed with the IRS. The form is used to determine the amount of income tax owed to the IRS in a single year. The 1040EZ form is used in simpler tax situations. 401(k) A retirement account offered through an employer, where an employee can contribute money from his or her paycheck before or after taxes. 403(b) A retirement account similar to a 401(k) plan, but offered by non- profit organizations, like universities or charitable organizations. 529 College Savings Plan A savings plan offering tax benefits that can be used for any qualified educational expenses. A Asset Property owned by an individual or organization that has some value. Can refer to physical items (like a house or car) or to intangible items (like a stock or bond). Associate s degree A degree granted after two years of study, often by a community or junior college. ATM Card A payment type similar to a debit card that allows you to make electronic purchases but requires that you enter a PIN (Personal Identification Number) for any transaction.

2 ATM An abbreviation that stands for Automatic Teller Machine. An ATM is a machine that allows you to make electronic deposits and withdrawals from your bank accounts. Account Number Each bank account has a unique account number. The account number can be found at the bottom of a check the second range of numbers in the series of numbers at the bottom of a check that tells the bank cashing the check which account to pull the money from. Annual Percentage Rate (APR) Another name for the interest rate charged on the balance of a credit card. Appreciating Assets An appreciating asset is something you own that increases in value over time. If you buy an appreciating asset and then sell it later on, it will be worth more money than you originally paid for it. Auto insurance A type of insurance that protects a policyholder in the case of a car accident. Most states require it by law. B Bachelor s degree A degree awarded by a college or university for completing undergraduate studies. Balance The total amount of money in a banking account at any given time. Balance Transfer A transfer of your existing credit card balance to another credit card. Balance transfers are typically used when a consumer wants to transfer their credit card debt onto a card with a lower interest rate. Bank Teller A bank employee who helps with account transactions like depositing or withdrawing money. Bonds A bond is basically a loan, except that in this case, you're the lender. When you buy a bond, you loan an amount of money to the organization issuing the bond at a certain interest rate for a certain period of time. You are paid interest from this loan at regular periods, and then, when the bond matures, you get back your initial investment plus any additional interest. Treasury and municipal bonds are specific types of bonds.

3 Branch Manager Manages all the personnel at a specific bank location or branch. Brokerage Account A brokerage account is an account you open with a stockbroker in order to trade stock on a stock exchange. The broker uses the money in the account to buy and sell stock on your behalf when you decide you would like to make a trade. Some types of brokerage accounts allow the broker to make trades on his/her own without your direct approval. Budget A budget is a plan of how you will spend the money that you make or receive. C Capital Gain Capital gain is the amount of money you gain from an investment (hence the name). Basically, it describes how much more money your investment is worth compared to the price you paid for it. Capital Gains Tax The Capital Gains tax is a tax charged on the profits made on the sale of something that was purchased at a lower price. People usually make capital gains from the sale of stocks, bonds, and property. Cash Advance A loan of cash you obtain with a credit card. Cashier s Check A payment type that is paid for upfront and guaranteed by the bank not to bounce. Certificate of Deposit A type of savings vehicle in which you put your money away for a certain amount of time, called a term, to allow your principal to earn interest. Charge Card A payment type that works just like credit cards except the balance must be paid in full every month. Check Card Another name for a Debit Card.

4 Check Number A number identifies each personal check, found at the top right of a personal check that identifies that specific check. Checking Account A type of bank account in which interest is not usually applied to the principal, but offers a safe place to store your money with high liquidity and allows you to make withdrawals using an ATM card, debit card, or personal check. Claim A claim is the request you make to your insurance company for payment of the benefits allowed by your coverage. For instance, if you receive a bill for repairs made to your car, you might submit a claim to your auto insurance company to request they pay the bill for you. Commercial Banks Commercial banks deal primarily with deposits and loans from corporations or large businesses. Compound Interest Compound interest is interest that's generated not only from the money you put into an account, but also from the interest you make on that money. In other words, with compound interest, you earn interest on your interest. Compounding Frequency The number of compounding periods in one year. The greater the compounding frequency, the more often your interest is calculated and added back into your account. Consolidation Loans These combine several student loans into one bigger loan from a single lender, which is then used to pay off the balances on the other loans. Consumer Financial Protection Bureau (CFPB) A U.S. government agency that helps protect consumers by regulating financial products and services, like mortgages, credit cards, and student loans. Consumer Fraud When a product or service is illegally used to deceive you into sending money or signing up with a phony service. Consumer fraud scams frequently start with a fake , letter or phone call. Co- pay A fixed fee that an individual pays for specific medical services, like a visit to the doctor s office.

5 Coverage Your coverage refers to the range of protection you are eligible to receive from an insurance plan. Insurance plans can have different coverage even if they're the same type of insurance. Credit Bureaus Credit bureaus, also called credit agencies or credit reporting agencies, are companies that collect credit information about individuals. They then calculate a credit score for each individual based on this information. Note that credit bureaus are private, for- profit businesses- they are not part of the government, though they are overseen by various government agencies. In the United States, the three major credit bureaus are Equifax, Experian, and TransUnion. Credit CARD Accountability Act of 2009 A law that established fair credit card practices. It puts restrictions on when credit car companies must provide credit card bills, accept payments, and notify consumers of changes to fees or rates. Credit Cards A credit card is a payment type that does not automatically draw money from your account. Instead, it provides a short- term loan that you can use to make everyday purchases. Credit card loans are unsecured, which means the credit card company can't take your valuables away from you if you don't pay the loan back. This is why credit card companies charge a high interest rate on the money you owe them- - so they can make money off of your loan. Credit History Credit history is a record of a person's borrowing and repayment activity. Whenever you take out a loan or a line of credit, it goes on your credit history, along with all the payments you make towards the loan. This includes any detrimental information such as late payments. Consumer credit history is tracked by the credit bureaus. Your credit history is the information that goes into your credit report, though the two terms are sometimes used interchangeably. Think of it like this: Credit history is what you've done, while a credit report is where it's written down. Credit Limit The amount of money that you are able to charge to a credit card. If you exceed this limit, your purchase may not go through and you could be penalized. Credit Report A credit report is a record that details a person's credit history. It also includes identifying information, such as names and addresses, so that an individual can be matched with his or her credit history. Credit Score Your credit score is a numerical rating of your credit- worthiness (how likely you are to pay off your debts). In the United States, the most commonly used credit score is the FICO score. Credit score is based on the information in credit reports from the three main credit bureaus.

6 Credit Union A credit union is a cooperative bank, meaning it is privately owned and controlled by its members. Its primary purpose is to provide credit at low rates to its members. Credit In regards to a bank account, when money is added into a bank account (also known as a 'deposit'). In regards to lending, a sum of money owed. D Debit Card A payment type that allows you to make electronic purchases that debit the cost of the purchase directly from your checking account. Debit When money is taken out of a bank account (also known as a 'withdrawal'). Deductible Your deductible is the amount you are required to pay toward each claim you make before your insurance kicks in. This cost is in addition to the regular price of your premium. Deduction In tax terms, an expense incurred by a taxpayer that is subtracted from gross income when the taxpayer computes his or her income taxes. Default Occurs when a borrower is unable or unwilling to repay a debt or required payment. Deposit When money is added into a bank account (also known as a 'credit'). Depreciating Asset A depreciating asset is something you own that decreases in value over time, meaning that if you sell the asset, you'll get less money than you paid for it originally. Direct debit Also known as ACH (Automatic Clearing House) transfer. Allows you to have money come out of your account one time or automatically. Direct deposit Also known as ACH (Automatic Clearing House) transfer. Allows you to have money come into your account one time or automatically.

7 Disability Insurance A type of insurance that helps cover lost income when an illness or injury prevents you from working. Diversification A risk management technique in which investors combine a variety of investments assets in their portfolio in order to minimize risk. Dividend A distribution of a percentage of a company s profit paid to stockholders. Dow Jones Industrial Average An index that represents the performance of the 30 largest companies in the United States. The idea is that if those big companies are doing well, the stock market is doing well, and if they're doing badly, the stock market is doing badly. Down Payment An upfront payment made when an item is bought on credit. Down payments are usually provided at the time of purchase particularly when purchasing larger items, like a house or car. E Equifax One of the three major credit bureaus in the United States, which tracks credit histories, creates credit reports, and calculates credit scores. Expenses Expenses are anything you spend money on, from a pack of gum to your monthly cell phone bill. Experian One of the three major credit bureaus in the United States, which tracks credit histories, creates credit reports, and calculates credit scores. F FAFSA FAFSA is the Free Application for Federal Student Aid. This is the main form students use to apply for federal education grants and loans. The amount of money a student is given or loaned depends on several factors, such as your family's income, your marital status, the type of school you're planning to attend, and more. FDIC FDIC stands for the Federal Deposit Insurance Corporation, which insures deposits at banks that have purchased the coverage.

8 FICO FICO is an acronym for the Fair Isaac Corporation, the company that developed the FICO score, which is the most commonly used credit score in the United States. There are others, but FICO is most commonly used. When someone says 'credit score,' it's almost always FICO they're talking about. FICO scores range from 300 to 850. Fair Credit Reporting Act The Fair Credit Reporting Act ensures that the information in your credit report is accurate, complete, and private. It requires correct use of credit reports. As a consumer, this act also gives you the right to view your credit report and dispute incorrect information. Fair Debt Collection Practices Act The Fair Debt Collection Practices Act aims at doing away with abusive and deceptive practices by those who collect debt. For example, it regulates the hours that collectors may call a consumer and prohibits collectors from publishing a consumer's name or address on a 'bad debt' list. Federal Funds Interest Rate An interest rate set by the Federal Reserve Bank in any given year that regulates interest rates on government loans. Federal Income Tax Bracket Brackets that determine, based on how much income an individual makes, what percentage of that income will be owed in taxes. Federal Income Tax The federal government charges income tax on all its residents. In this tax system, you are taxed on the money you earn while working. Federal Reserve The Federal Reserve is the central banking system of the United States. It is composed of a Board of Governors, the Federal Open Market Committee (FOMC), and 12 regional Federal Reserve Banks. These three parts work together to prevent banking disasters and promote a healthy economy. Federal Student Loans Federal Student Loans are offered directly to students by the government. Federal law sets the maximum interest rates and fees lenders may charge for these loans. Because of this, their interest rates are lower than interest rates on other types of loans. Federal Student Loans are awarded to students and the parents of students based primarily on financial need. Federal Trade Commission The Federal Trade Commission (FTC) is a U.S. government agency that protects consumers against false advertising and other unfair business practices.

9 Federal Work- Study Program A part- time employment that can be awarded as part of a federal financial aid package. Fee Schedule A detail of all the fees that may be charged on a bank account. Fixed Rate This refers to an interest rate that remains fixed, or the same, over the life of the loan. Foreclosure The process by which a bank or other entity takes possession of a mortgaged property when mortgage payments are not being made. Fund Manager Someone who oversees a mutual fund and makes the investment decisions for the fund. G Grace Period In reference to credit cards, this is the amount of time you have to pay back a balance before it starts accumulating interest. Grant Grants are given to students to help pay for their education and do not have to be repaid. Students must apply for grants, which a school or organization usually awards based on merit, financial need, or a combination of the two. H Hard credit inquiry A type of credit inquiry that occurs when someone checks your credit history to make a lending decision. A hard inquiry affects your credit score and can remain on your credit report for up to two years. Health insurance A type of insurance that covers the cost of medical expenses. Homeowners insurance A type of insurance that covers your home as well as your possessions inside it in case of damage or loss.

10 I IRA Stands for Individual Retirement Account. A retirement account designed for individual savers that offers tax savings, but has contribution limits and withdrawal restrictions. IRS Stands for the Internal Revenue Service. The government agency in charge of collecting taxes from US citizens. Identity Theft A form of fraud. Identify thieves use another person's personal information in order to steal that person's money or gain access to other benefits. Common forms are credit card fraud, phone and utility theft, and banking fraud. Income The government defines income as any form of money, property, or services that you receive. Index Fund A specific fund that is made to track the overall performance of the market, a certain investment type, or group of stocks. Initial Fraud Alert An alert put on your credit file to help prevent additional identity theft. The alert stays on your file for 90 days, at which point you can choose to renew it if necessary. Interest Rate An interest rate is the percentage of interest you either make or pay on a principal (like 1% or 5%). Say you have a savings account with $1,000 and a 5% interest rate. 5% of $1,000 nets you $50. Interest Interest is the fee someone pays to be able to borrow money. You either pay interest on money you borrow (like when you take out a loan to buy a car) or you make interest on the money you save (like when a bank pays you interest on money you put into a savings account). Investment When you spend money on something to gain profitable returns, as interest, income, or appreciation in value. J Junk Bonds A type of bond that has the potential for high returns, but with a high risk of default.

11 L Landlord The owner of a property. Lease A lease is a rental agreement. It lays out the terms for the property you'd like to rent: how much you're going to pay and how long (and how often) you're going to pay it. The most familiar use of a lease is in the rental of housing, like an apartment. In this case, it refers to the document you sign with the owner that gives you the right to live there in exchange for paying the rent and complying with any other requirements. It's also used when leasing a car, which is really just a long- term rental agreement. You lease the car for a period of time, and when that time is up, you return it to the dealer. Life Insurance A type of insurance that ensures that another person (called a beneficiary) will be financially protected if you pass away. Liquidity Refers to how easily and quickly your assets, like your money, can be moved. Loan Officer Someone who advises, evaluates, and signs off on loans to individuals and business. M Maintenance Costs Costs associated with ownership of a house, a car, or a similar purchase that are the owner's responsibility. Medicare A tax that pays for health care for people aged 65 and over. Merchant Credit Card A card that you sign up for at a store, which may offer discounts or other rewards. These cards function like a regular credit card. Minimum Monthly Payment In regards to credit cards, this refers to the least amount of money you are obligated to pay back on a monthly basis to avoid fees and penalties associated with not paying the minimum amount.

12 Money Market Deposit Account A part checking, part savings account. It requires a high minimum balance but also offers a higher interest rate. You're usually allowed three to six withdrawals per month without being penalized. Money Market Savings Account A type of savings vehicle that usually requires high minimum balances but offers higher interest rates. Money order A payment type paid for upfront and used to pay for goods or services. Money orders function like cash, but are safer because you are able to specific whom the money order should go to. Mortgage A mortgage is a type of loan used to finance the purchase of real estate. At a basic level, it works just like any other loan: someone wants to purchase something (in this case, a house) but doesn't have enough money to p ay for it all at once, so they borrow money from a bank to do so. Then they pay back the money they borrowed in installments, with interest. Municipal bond A bond issued by a state, county or city government. Mutual Funds A mutual fund is a collection of investment vehicles that you can buy as a single package, rather than purchasing individual stocks, bonds, and other investments yourself. Investors purchase shares of the mutual fund. The mutual fund then uses that money to buy the investment vehicles that go in the fund. N NASDAQ The NASDAQ, which stands for the National Association of Securities Dealers Automated Quotations, was the world's first electronic stock market. NASDAQ trades are made via computer rather than in person or over the phone. Need When referring to budgeting, a need is an expense that is an absolute necessity. Nest egg An amount of money usually saved over a long period of time that is used to pay for something in the future, like retirement.

13 NYSE The New York Stock Exchange (NYSE) is the largest stock exchange in the world in terms of amount of money traded. As the name suggests, it's located in New York City, on Wall Street, the main financial district. O Online Access Some bank accounts offer this as a way to allow customers to complete some financial transactions electronically, via the Internet, like checking account balances and making transfers. Online Transfer A transfer of funds from one account or individual to another through a bank s website or mobile application. P Payday Lenders Payday lenders offer small cash loans, usually in the range of $100 to $500, with payment due in full at the borrower's next paycheck. Payment History A history of the payments you have made on all credit you have obtained, which affects your credit score. Tracks such things as whether or not you pay your bills on time, whether or not you always pay at least the minimum amount, etc. Payment Types Payment types are what you actually use to buy something. There are lots of options: cash, checks, debit cards, and credit cards are just a few. Pell grant A grant awarded based on financial need by the U.S. federal government to help students pay for higher education. Perkins Loan One of the most common types of federal student loan, awarded based on limits that are set for any individual loan as well as on financial need. Perkins loans have a set 5% interest rate and a 10 year repayment period. Personal Check A paper payment type. You can write and sign a personal check to pay for purchases at places that accept them, and funds from personal checks are drawn directly from your checking account. Pet Deposit An amount of money, usually specified in the lease agreement, used to cover any rental property damages caused by a pet.

14 Phishing scam A scam where someone tries to deceive you into providing personal information by impersonating someone, like a bank representative. PIN Stands for Personal Identification Number. Often used to complete a transaction made with a debit card. Policy When relating to insurance, a policy is the document that outlines the terms and conditions for your insurance coverage. Portfolio When relating to investments, a portfolio refers to the range of investments held by an individual or organization. Premium The premium is the amount you pay to have insurance for a specific amount of time. A premium covers a set amount of time (for example, a year) and payment may be due all at once or divided and paid on a regular basis, such as monthly. Prepaid card A card that allows you to put a specific amount of money onto them. Prepaid cards usually come with additional fees and charges. Principal Principal is the sum of money you put into an account or the amount of money (minus interest) you owe on a debt. So if you open an account with $500 (or take out a loan for $500), the principal amount in either case is $500. Private Student Loans Private Student Loans are financed by private companies rather than the government. Since interest rates and fees for these loans aren't capped by the government, they cost more than federal loans. Property Tax Property taxes are taxes an owner pays on the value of any owned property, including land, buildings, or houses.

15 R Rate of Return Rate of return (ROR) is the ratio of the money you gain on an investment in relation to the amount of money that was invested. For example, if you invest $100 and generate a $25 return, the investment has a 25% rate of return: $25 return / $100 investment = 25% ROR. Rate of return is often expressed in terms of the annual rate of return on an investment. So, if an investment has a 15% annual rate of return and you invest $1,000 at the beginning of the year, at the end of the year you'd have $1,150 altogether. Registration fees When referring to a vehicle, registration fees are a compulsory charge for registering the vehicle with a government authority, usually a state or county. Renters Insurance A type of insurance that can protect you from damage or loss of your items in a rental property. Rent- to- own Agreement An agreement where your rental payment goes towards owning the property later on. Required Balance A certain amount of money you must have in some bank accounts at any given time to avoid being penalized. Retail Bank A retail bank deals directly with individual customers and small businesses. It doesn't have big corporations or other banks as customers. Return Refers to how much money an investor could potentially earn from an investment. Usually expressed as a percentage. Risk In investing terms, the chance you take that an investment may or may not result in a return. ROI Stands for Return on Investment. Roth IRA An individual retirement account designed for individual savers. With a Roth IRA, the money you contribute is taxed, which means the money comes out tax- free when you retire. Roth IRAs also allow you to withdraw some of your contributions before retirement without paying a penalty, if you use it to pay for certain things like buying your first home.

16 Routing Number The first range of numbers in the series of numbers at the bottom of a check that indicates which Federal Reserve district the bank issuing the check belongs to. Rule of 72 A method for estimating how long it will take compound interest to cause a principal to double by dividing the interest rate by 72. S Sales Tax Many states charge sales tax. This means when you pay for something, the sales tax is added to the total before you pay. Sales tax is usually a percentage of the price of what you purchase. This sales tax rate varies from state to state. Sales taxes don't figure into income tax. Savings Accounts A type of savings vehicle in which you earn interest on the principal, usually without minimum balance requirements but lower interest rates. Savings Plans A savings plan is a way to save money for the long- term, which for most people means retirement. Examples of these savings plans include 401(k) and 403(b)s, which are employer- sponsored retirement plans to which both the employee and employer contribute, and IRA and Roth IRAs, which are retirement accounts set up by individuals. Savings Vehicles Savings vehicles are accounts designed to let you set aside money that is separate from your checking account. You can open savings vehicles at most banks. They come in a variety of forms, including savings accounts and auto- save with online banking, money market accounts, and Certificates of Deposit (CDs). Savings and Loans Savings and Loans are banks that specialize in accepting savings deposits and making mortgage loans. They do not offer loans to commercial businesses. Scholarship Scholarships are given to students to help pay for their education and do not have to be repaid. Students must apply for scholarships, which a school or organization usually awards based on merit, financial need, or a combination of the two. Security A security is a term referring to a category of investments. Stocks, bonds, mutual funds, and many other types of investments are all securities.

17 Security Deposit An amount of money that the property owner holds onto during the lease that can later be used to pay for any damages to the property caused by the renter. Usually equal to one month s rent Shareholders In investing terms, another name for a Stockholder. Shares In investing terms, another name for a Stock. Social Security A tax that pays for the retirement benefits for people who are currently retired and for the future retired population. Social Security Number A Social Security number (SSN) is a 9- digit number issued to U.S. citizens, permanent residents, and temporary working residents. It is chi efly used to track down who should be paying taxes, and more recently as a national identification number. Each individual has his or her own unique number. Soft credit inquiry A credit inquiry that occurs when someone runs a background check on your credit, like when starting a new job. This type of inquiry does not affect your credit score. Stafford Loan One of the most common types of federal student loan, awarded based on limits that are set for any individual loan as well as on financial need. Standard and Poor 500 An index that represents the performance of 500 companies. Most of these companies are American, but not all. Since it includes the performance of a large number of companies, some consider it to be a more accurate representation of the stock market as a whole. State Income Tax Most states charge income tax on all its residents. In this tax system, you are taxed on the money you earn while working. State income taxes are charged in addition to federal taxes, though requirements for state income tax vary from state to state. Stock Shares of ownership in a company. If the company grows in value, then the value of the stock grows in value as well.

18 Stock Exchange A stock exchange is a place where stocks are bought and sold. This is known as trading stocks. A stock exchange can be a real, physical location (the building where trading takes place), but it can also be more of an idea, too. For example, if you're making an electronic trade on the New York Stock Exchange, nothing will actually happen in the NYSE building, but the trade will still happen on that exchange. Stock Market Indices The overall performance of the stock market is measured by stock market indices. A stock market uses stock prices of multiple companies to estimate the performance of the stock market as a whole. You might hear about the Dow Jones being 'up' or 'down' indicates how the market is doing that day. Think of it a batting average for the stock market. There are many different indices, but the three most prominent are the Dow Jones Industrial Index, the Standard and Poor 500, and the Wilshire Stock Ticker A stock ticker is a scrolling banner that provides stock information, often seen at the bottom of the screen on television news programs and electronic billboards. They're called 'tickers' because before the invention of electronic displays, mechanical printers were used that made a 'ticking' sound. Stockbroker A stockbroker is an individual who has a license to buy and sell stocks and other investments on one or more stock exchanges. Without a license, you can't buy or sell stock yourself. Instead, you have to contact your broker, who will then make the transaction on your behalf. Some brokers simply carry out your instructions on what investments to make, while others act as advisors, or even handle their clients' investment decisions themselves. Stockholder Someone who owns stock in a company. Stocks A stock is a share of ownership in a company. Stocks are also called shares, or shares of stock. Owning stock in a company means that you actually own a piece of the company. Someone who owns stock is called a stockholder or shareholder. All the stockholders in a company share in the ownership of the company. Some stocks pay dividends, which are the company's profits divided up and distributed among all shareholders. Stocks are bought and sold on stock exchanges. Stock quotes, published both online and in print, provide information about stocks' performance. The total value of all the stocks held by investors in a company is known as the company's market capitalization. Subsidized Student Loan This is a type of federal student loan on which the government pays the interest that accrues while a student is in school.

19 T Tax Bracket Brackets that determine, based on how much income an individual makes, what percentage of that income will be owed in taxes. Tax Deduction An expense incurred by a taxpayer that is subtracted from gross income when the taxpayer computes his or her income taxes. Tenant The renter of a property. Ticker Symbol A ticker symbol is a series of letters used to identify a stock or a mutual fund. They vary in length depending on the type of investment and the exchange where it is traded, but the purpose is always to provide a short, easy way to identify investments at a glance when reading a stock ticker. TransUnion One of the three major credit bureaus in the United States, which tracks credit histories, creates credit reports, and calculates credit scores. Treasury bond A bond issued by the U.S. government and therefore considered to have very low risk of default. Truth in Lending Act The Truth in Lending Act (TILA) requires that individuals and businesses extending credit (like your credit card carrier) reveal all the terms and costs that are attached to it. The purpose of TILA is to help consumers compare varying credit offers and the use of cash versus credit. U Unsubsidized Student Loan This is a type of federal student loan on which the government does not pay the interest that accrues while a student is in school. Utilities Services like electricity, water or gas provided to the public.

20 V Variable Rate This refers to an interest rate that is based on an interest rate index, which means the rate can change over the life of the loan. Volatile When relating to investments, volatile means that the price of an investment can be hard to predict or can frequently change. W W- 2 A tax form employers send to each of their employees listing how much money that individual made during the last year and how much has already been paid in taxes. W- 4 A tax form an employee fills out that tells the IRS how much money to take out of each of their paychecks. Want In reference to budgeting, a want is an expense that is not an absolute necessity. Wilshire 5000 An index that includes stock prices from 5,000 companies. That's nearly every company traded in the United States Withdrawal When money is taken out of a bank account (also known as a 'debit'). Withholding An amount taken out of you paycheck to pay for taxes. Y YTD Stands for Year to Date