Savings!
Sumer, Carlos, Josh
Definition of Investments
The purchase of assets with the goal of increasing future income
Reasons to Save
- Unexpected events or emergencies
- Purchasing expensive items with credit
Methods of Saving
Saving Account - Keeps money safe until the owner needs it for emergencies
Money Market Deposit Account - Account that pays a higher interest rate than a savings account
Certificate of Deposit - An account that pays interest on a lump sum of money
Definition
Something a person intends to acquire, achieve, do, reach, or accomplish
Definition
Everything an individual owns with monetary value
Definition
An abundance of valuable possessions or money
Definition
How quickly and easily an asset can be converted to cash
Definition
The higher your interest the more you gain