Chapter 3
Saving Money
Embedded Files
Saving Money Takes Discipline
Saving Money Takes Discipline
Lesson 3.1
Key Terms
No Vocabulary
Tree Basic Reasons to Save
Tree Basic Reasons to Save
Lesson 3.2
Key Terms
Emergency Fund: a savings account set up specifically to be used to cover financial emergencies
Large Purchase: a purchase that requires a significant amount of money
Saving for Emergencies
Saving for Emergencies
Lesson 3.3
Key Terms
No Vocabulary
Saving for Large Purchases
Saving for Large Purchases
Lesson 3.4
Key Terms
Interest Rate: the percentage of principal charged by the lender for the use of its money
Accrued Interest: the amount of interest charged on a debt but not yet collected; interest accumulates from the date a loan is issued
Building Wealth
Building Wealth
Lesson 3.5
Key Term
Compound Growth: the average rate of growth for an investment over time; often expressed as an annual figure
Compound Interest and Growth
Compound Interest and Growth
Lesson 3.6
Key Terms
Compound Interest: interest paid on interest previously earned
Principal: the initial amount of money invested or borrowed
Rate of Return: the measure of an investment’s profit or loss, usually expressed as a percentage of the initial investment
Inflation: the persistent rise in the cost of goods and services over time
Time Value of Money: concept that an amount of money is worth more today than in the future due to earning potential
Chapter 3 Review
Chapter 3 Review
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