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Reference

Reference

Plain-English definitions for the terms you'll encounter on your financial journey.

A
Abstract of Title🏠 Real Estate

A summary of the history of a property's ownership, including all recorded legal documents and claims.

B
Bank Statement💰 Personal Finance

A periodic summary of account activity issued by a bank to the account holder showing deposits, withdrawals, and balances.

D
Declaration Page🛡️ Insurance

The part of an insurance policy that summarizes key details like the policyholder's name, coverage limits, premium costs, and effective dates.

Declarations page🛡️ Insurance

A summary section of an insurance policy that lists key details like coverage limits, deductibles, premiums, and policy dates.

G
Gamma📈 Investing

An options Greek that measures the rate of change in an option's Delta for every one-point move in the underlying stock price.

H
Human Development Index🏛️ Macroeconomics

A summary measure of average achievement in key dimensions of human development, including life expectancy, education, and per capita income. It provides a broader view of a nation's well-being than GDP alone.

M
MMA🏦 Banking

Money Market Account: This is a type of savings account offered by banks that usually pays a higher interest rate than a standard savings account. It provides you with easy access to your money, often with limited check-writing or debit card features, making it a safe place to park cash while earning a little extra interest.

P
P&L🏪 Small Business

A Profit and Loss Statement is a simple summary that shows how much money a business made and spent over a period of time. It acts like a scorecard to tell you if the business actually made money or lost it during the month or year.

S
Stagflation🏛️ Macroeconomics

A rare economic condition characterized by slow economic growth and relatively high unemployment accompanied by rising prices. It presents a dilemma for policymakers because actions to lower inflation may increase unemployment.

Student Aid Report🎓 Education Finance

A summary document sent to students after they submit the FAFSA, detailing their financial information and aid eligibility.