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Finance Vocabulary

Melanie Wilcox

Mortgage Not pay back a loan.
Default Stays the same over time.
Funds Guarantee a loan for someone else.
Variable An opinion on how well you can pay back a loan.
Fixed A loan to buy a house or property.
Co-sign The maximum you can borrow.
Cash Advance A check to see how well you can pay back a loan.
Credit Rating Yearly.
Credit Evaluation A bank account you use to save money.
Credit Limit Your income before you pay taxes.
Annual  Changes over time.
Savings The cost of borrowing money.
Checking  Money.
Afford Money that you borrow on a credit card.
Interest A bank account you use for day to day expenditures.
Net income Be able to pay for goods or pay back a loan.
Gross Income Your income after you pay income taxes and expenses.
Prime The basic interest rate that banks use.

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