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| laws and regulations in place to protect consumers from unsafe products, false ads, and ensuring proper labeling. |
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| When interest gets applied to the principle and the former interest; Credit card companies apply it to your balance; Can go into debt quickly |
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| money borrowed to pay for a good or service; A loan; Without it our economy would stop because it would be almost impossible to expand |
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| Consumer bank cards which allow consumers to borrow money; MasterCard & VISA; high interests to pay later |
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| A number that rates the likelihood of someone paying back a loan,; (FICA) score; If you want a loan you better have a high score or the cost of the loan will be high |
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| Securities that are bunched together and sold; Dow Jones Mutual Fund; minimizes the risk to the investor because of the diversity of stocks |
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| Company directed retirement plan for its workers, worker retirement safety net |
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| Tax on your income to pay for government expenditures; Federal and State tax on you paycheck; Taxes out of your paycheck to pay for guns and butter |
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| Welfare program in the U.S. that includes old-age and survivors insurance and some unemployment insurance and old-age assistance pay to citizens; Forced retirement savings that all Americans are entitled to if they paid into it; If the government doesn't pay senior citizens will go insane on politicians! |
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| movement to help inform people about products they might purchase, and know their rights regarding those purchases |
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| Food and Drug Administration. Insures that foods, drugs, and cosmetics use products that are save, and are labeled correctly |
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| Federal Trade Commission. Deals with problems of false advertising and product claims. They also regulate anti-trust/price fixing laws. |
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| Better Business Bureau. A business run organization that provide info about local businesses and warn consumers about dishonest business practices. Additionally investigate consumer complaints about businesses. They rate business so that consumers can gauge the trustworthiness of the business. |
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| Kennedy's and Nixon's 5 consumer rights which are safety, informed, choose, be heard and redress maters concerning products consumers may or have purchased. |
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| A record of money spent, or will be spent, and earned including savings. |
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| Independent publication that looks at a broad spectrum of products from floor cleaner to cars and rates them on effectiveness, quality, and price for consumers |
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| internet consumer ratings |
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| Many sites/stores like Amazon, EBay, Google, Wal-Mart, Home Depot, and Lowes will have ratings by users about products purchased on those sites or at those stores. They are useful only if a few hundred ratings have been posted about the product, and it's important to read the reviews posted as well. |
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| Loans given to students and/or their parents to help pay for the cost of college. These can be expensive over time, and MUST be paid back no mater what. |
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| Subsidized Stanford loans |
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| Student loans that DO NOT accumulate interest while the student is enrolled full time (24 credit hours per year) Can save thousands while in school in interest. |
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| Unsubsidized Stanford loans |
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| Student loans that DO accumulate interest while the student is in school. Can cost students thousands while in school in interest compared to subsidized. |
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| The annual cost of a loan's interest. This should be calculated in order to find the true cost of a product your purchasing on credit. |
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| Initial amount. Could be the amount you put into a bank account, or the initial amount of a loan from a bank without interest. |
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| Something of value (financial assets like a care, real estate, ect.) promised to a bank to get a loan, if you don't pay off the loan the bank may take the asset. |
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| Certificate of deposit, a timed deposit which after you give the principle amount a set rate of interest will be paid back after a agreed to period of time, high penalties for early withdraw though. |
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| Accounts offered by banks that require a much higher principle, but yield a higher interest rate for the user |
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| Individual Retirement Account. A tax-deferred retirement account for an individual that permits individuals to set aside money each year, with earnings tax-deferred until withdrawals begin at age 59 1/2 or later (or earlier, with a 10% penalty). Usually income/interest earned per year is NOT taxed! |
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| When criminals get ahold of your SS# or other personal information and use it to obtain credit (loans) and then run up debt without pay off which will horribly affect one's credit score. |
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| Help with emergency funds when something bad happens, for instance if you can't work, get in a car accident, hurt yourself, or your home is burned down or flooded. |
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| a fraudulent investment operation that pays returns to its investors from their own money or the money paid by subsequent investors, rather than from profit earned by the individual or organization running the operation. I take money from you to invest, show your money to other investors acting like I made profit, and in turn they give me more money to invest, with no actual investment being made. |
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| a non-sustainable business model that involves promising participants payment or services, primarily for enrolling other people into the scheme, rather than supplying any real investment or sale of products. You buy the product from someone above you to sell, the product is essentially useless and can't be sold, the person at the top makes the money though even though the products can't be resold because people are buying the products from them in order to sell. BIG SCAM! |
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| network marketing company |
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| similarity to illegal pyramid schemes, price fixing of products, high initial start-up costs, emphasis on recruitment of lower-tiered salespeople over actual sales, encouraging if not requiring salespeople to purchase and use the company's products, potential exploitation of personal relationships which are used as new sales and recruiting targets, complex and sometimes exaggerated compensation schemes. However they are legal, and can make all users money. I.E. Amway, Tupperware, Mary Kay. |
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| Consumer Product Safety Commission, federal agency in charge of product recalls and safety |
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| portfolio diversification |
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| all of your personal investments/savings. Investors should spread those among many investments so if 1 or 2 investments go bad the others still gain. |
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| Gov't issues as a way to borrow money which consumers can buy and gain interest which is usually higher than a checking or savings account |
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| Home payments that include the principle principle paid for the home) and interest. Usually 30 years, over which the interest you pay will far exceed the principle |
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| contribution plan offered by a corporation to its employees, which allows employees to set aside tax-deferred income for retirement purposes and invest it in a broad diverse investment portfolio, and in some cases employers will match their contribution dollar-for-dollar, although that is becoming more and more rare. |
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| Legal documents spelling out the agreement you about to agree to. If not understood by yourself you should NEVER sign or agree to it. |
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| Buying products you don't need, make you feel better in the short-term, quickly loose interest in, or if you need to borrow to buy. Usually leads to debt. |
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