Money Management Unit Vocabulary

Front

Adjustable-rate mortgages (ARMs)

Back

Loans with interest rates that change periodically.

Front

Disposable Income

Back

Income available after taxes

Front

Discretionary Income

Back

Income after necessary expenses

Front

Passive Income

Back

Income with little to no effort

Front

Credit Union

Back

Member-owned financial cooperative for banking services

Front

Bankruptcy

Back

Legal process for debt relief

Front

Fixed Rate Mortgage

Back

Mortgage with a constant interest rate

Front

Foreclosure

Back

Legal process of taking possession due to unpaid mortgage

Front

Security Deposit

Back

Sum of money to secure rental agreement

Front

Housing Utilities

Back

Electricity, water, gas, heating, waste management