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Learn about your debt - still more terms

Income: Any money a person receives.

Inflation: An increase in the price of goods and services. Will result in a need for additional dollars to be able to purchase the same items in the future.

Interest: The cost for the use of money.

Invest: Money set aside for future income, benefit, or profit to meet longer-term goals.

Loan Term: The length of time covered by a loan.

Mutual Fund: An investment that pools money from several investors and uses it to buy a particular type of investment, such as stocks.

Needs: The essentials or basics of life. Those things that you cannot live without.

Net Income: The amount of a paycheck that a person can actually spend; essentially gross income less any payroll deductions.

Opportunity Cost: The value of what is given up when a person chooses one option over another.

On to still more terms.