bank A business whose main purpose is to receive deposits and make loans.
assets Anything owned to which a market value can be assigned.
credit card A card authorizing the user to buy goods and services with funds borrowed from the bank. store. or other business that issued the card.
debit card A card authorizing the user to access his or her own funds on deposit in a bank account. A debit card can be used to buy goods and services or to withdraw money directly from an account.
saving Setting aside a portion of income for use in the future.
interest Aperiodic payment for the use of borrowed funds. When calculated as a simple percentage of the amount borrowed, this payment is also known as simple interest.
principal The amount of money borrowed. or the amount of money still owed on a loan. apart from the interest.
investing Using money with the intention of making a financial gain.
diversification A method of lowering risk by investing in a wide variety of financial assets.