Glossary

Glossary definitions provided in part by the Jump$tart Coalition for Personal Financial Literacy.

Business plan: A description of a company's organizational structure, staff, activities, and marketing and financial plans, including expected sources of income and expenses.

Capital Gain : Income that results when the selling price of an asset is greater than the original purchase price.

Capital Loss : Monetary loss that occurs when the selling price of an asset is less than the original amount invested.

Capitalization: Interest capitalization occurs when loan interest has accrued and was not paid, and the accrued interest is added to the outstanding principal balance of the loan. From that point forward, interest is assessed on the new, higher principal balance. Some loans accrue interest while a borrower is in school or during periods of deferment or forbearance, and offer an option for the borrower to pay the interest during those periods. If the borrower does not pay the interest during those periods, the accrued interest is usually capitalized when the loan goes into repayment. Note: Some lenders capitalize interest quarterly or yearly instead of at repayment, Check with your lender.

Capitalization/Capitalized: Interest capitalization occurs when loan interest has accrued and was not paid, and the accrued interest is added to the outstanding principal balance of the loan. From that point forward, interest is assessed on the new, higher principal balance. Some loans accrue interest while a borrower is in school or during periods of deferment or forbearance, and offer an option for the borrower to pay the interest during those periods. If the borrower does not pay the interest during those periods, the accrued interest is usually capitalized when the loan goes into repayment. Note: Some lenders capitalize interest quarterly or yearly instead of at repayment, Check with your lender.

Career: A profession or field of employment for which one studies or trains, such as financial services or medicine. (See Job.)

Cash flow statement: A summary of receipts and payments for a given period, helpful when preparing a budget; also known as an income and expense statement.

Casualty Loss: A casualty occurs when property is damaged as a result of a disaster such as a hurricane, fire, car accident or similar event.

Certificate of Deposit: A certificate from a bank stating that the individual has a specified sum on deposit, usually for a given period of time at a fixed rate of interest.

Charitable gift: Aid to those in need.

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