Saving and Budgets (29-62) Vocab

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Annual Fee

Back

The amount you pay each year to use a credit card.

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Annual Percentage Rate (APR)

Back

The yearly cost of borrowing money, shown as a percentage.

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Authorized User

Back

A person allowed to use someone else's credit card account.

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Character

Back

Your past behavior and reputation as a borrower of money; affects credit available.

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Debt Collection Agency

Back

A company that tries to get back money that hasn't been paid.

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Late Payment Fee

Back

A charge you get for paying a bill after the due date.

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PIN (Personal Identification Number)

Back

A secret number you use to get into your account or make payments.

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50-30-20 Method

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A budgeting rule: spend 50% on needs, 30% on wants, and save 20%.

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Savings Goal

Back

A specific amount of money you plan to save for something important.

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Budget

Back

A plan for how to spend and save your money.