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What is meant by “Emergency fund” in this lesson?Emergency funds: An emergency fund is accessible money reserved for unexpected financial needs.
What is meant by “Liquidity” in this lesson?Emergency funds: Liquidity describes access to funds without substantial delay or loss.
What is meant by “Emergency target” in this lesson?Emergency funds: A target estimates a reserve using expenses, income stability, and support.
What is meant by “Reserve rebuilding” in this lesson?Emergency funds: Rebuilding restores a reserve after funds are used.
What is meant by “Access versus temptation” in this lesson?Emergency funds: An account arrangement balances availability with unwanted casual spending.
What is meant by “Insured deposit” in this lesson?Emergency funds: Eligible deposits at an insured institution have protection under the applicable insurer's rules and limits.
What is meant by “Principal” in this lesson?Interest and compounding: Principal is the initial or outstanding amount before the relevant interest calculation.
What is meant by “Simple interest” in this lesson?Interest and compounding: Simple interest applies a rate to principal without compounding within the stated model.
What is meant by “Compound interest” in this lesson?Interest and compounding: Compounding earns or charges interest on prior interest as well as principal.
What is meant by “Annual percentage yield” in this lesson?Interest and compounding: APY reflects an annualized deposit yield including compounding under stated conditions.
What is meant by “Compounding frequency” in this lesson?Interest and compounding: Frequency specifies how often interest is added under account terms.
What is meant by “Real saving return” in this lesson?Interest and compounding: A real return accounts for purchasing-power changes as well as nominal growth.
What is meant by “Goal amount” in this lesson?Choosing a savings goal: A goal amount states the funds required for a defined purpose.
What is meant by “Savings gap” in this lesson?Choosing a savings goal: The gap equals the target minus funds already allocated to it.
What is meant by “Regular contribution” in this lesson?Choosing a savings goal: A contribution is the amount added at a planned interval.
What is meant by “Goal deadline” in this lesson?Choosing a savings goal: A deadline defines when the target should be available.
What is meant by “Goal feasibility” in this lesson?Choosing a savings goal: Feasibility compares required contributions with available resources.
What is meant by “Goal revision” in this lesson?Choosing a savings goal: Revision changes timing, amount, or method when assumptions change.