Understanding financial terms can be challenging due to the abundance of acronyms and jargon. To help demystify some of these concepts, we’ve compiled a glossary of finance terms related to money and credit. (This isn’t an exhaustive list).
Finance terms defined
401(k): This is an account sponsored by your employer that enables you to contribute funds for retirement either before or after taxes depending on the options offered in your plan.
AnnualCreditReport.com: The only site authorized by federal law to provide free credit reports. Americans are entitled to one free credit report annually from each of the three credit reporting bureaus: Equifax, Experian, and TransUnion.
Amortization: When you get a mortgage or car loan,…
