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Financial Literacy in the News

Glossary of Terms

The day that the closing of the sale of a property takes place. If it is you who is buying or selling, people will ask, "When is your closing day?" or "When do you close?" For real estate...
Insurance scoring is a method used by insurance companies - typically when providing automobile insurance, but also for ...
A share is a portion of a public company that you can own, and if you do, you are a shareholder. Ownership of public companies is divided...
These are bonds issued by municipalities (towns, cities, counties, states). Like any other bond issuers, municipalities issue bonds to raise money, often for specific projects that are to be...
A corporation is a legal entity that is a particular type of company. All corporations are companies, but not all companies are corporations. Most public companies are corporations, but...
Consequential damages are damages claimed in addition to actual damages, and usually are harder to prove and harder to calculate. Let's say that you own a flower shop and buy flowers from a...
FICA is the federal government act that provides for the imposition of two payroll taxes upon employees: Social Security tax,...
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