Financial Dictionary
Asset
An asset is something you own, and includes cash, savings accounts, and personal property. In a balance sheet, assets such as the value of your home are offset by liabilities, such as your current mortgage.
An asset is something you own, and includes cash, savings accounts, and personal property. In a balance sheet, assets such as the value of your home are offset by liabilities, such as your current mortgage.
Balance sheet
A balance sheet is a financial statement that shows your financial assets (such as your savings account and home equity) compared to your financial liabilities (such as your mortgage, credit card debt).
A balance sheet is a financial statement that shows your financial assets (such as your savings account and home equity) compared to your financial liabilities (such as your mortgage, credit card debt).
Budget
A budget is a document that shows your spending goals for a designated period of time.
A budget is a document that shows your spending goals for a designated period of time.
Compound interest
Compound interest is interest which is calculated not only on the initial principal but also the accumulated interest of prior periods.
Compound interest is interest which is calculated not only on the initial principal but also the accumulated interest of prior periods.
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