Financial Literacy Vocabulary Pt. 1

    As promised readers, we are going to get through this heap of information on financial literacy together. I know a lot of my blogs are aimed at African Americans and systemic issues we face, but this information can honestly be useful for anyone who feels that they lack information on financial literacy and want to make a promising change for themselves and their children. I'm pro black, but I'm also pro human (meaning I want everyone to be the best version of themselves that God made them) Now that I'm done with my dissertation, let's focus up! I think we should start with vocabulary. This will probably be broken into two separate post because it's lengthy.  If you want to make flash cards like my spouse or just jot these down then feel free to grab your supplies and get going!

  •  Amortization: making payments on a loan over a period of time.  The interest and principle are usually included in the payments made.
  •  Annual Fee: yearly fee credit card companies charge.
  • Annual Percentage Rate (APR): is a percentage that represents the yearly cost of a loan, interest, and service fees.
  • Annual Percentage Yield(APY): is the yearly amount an account has earned, including compound interest. 
  • Appreciation: To increase in value.
  •  Assets: anything that you own; anything that can bring you value.
  •  Back End Load: A sales fee you owe when an investment is sold.
  • Bank: Provides checking accounts, savings accounts, and other financial services for account holders.
  • Bankruptcy: A legal process that causes a person to lose assets in order to help pay off burdensome debts.
  •  Bond: A loan ( made by an investor) usually paid to a governmental company or business for a set amount of time in exchange for regular interest payments. 
As I mentioned before, I don't want these post too long due to the amount of information. Hopefully, you've learned some new terms or reviewed some old ones you're already familiar with. Feel free to go over these with children (I may make a separate post for children vocab, although you may be surprised what your child can absorb) We often feel schools skip this proponent and it hurts us in our adult life so as parents we can give our kids the advantage of learning this at home. It's not like they are not learning pop culture songs and dances, we might as well include productive things as well. I'll be back with more vocab because I want to thoroughly discuss finances so we can make our way to figuring out how to bring wealth to our current and next generation of family members.

Until Next Time, 

Dx3

Source:

https://uwf.edu/centers/louis-maygarden-center-for-financial-literacy/financial-literacy-basics-and-vocabulary/


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