Appendix A
Glossary
401(k) A retirement plan put in place by companies for their employees, which allows employees to save for their retirement by having money subtracted from their paycheck.
actual budget The budget you create by reviewing and recording what you actually have spent. See also compromise budget, ideal budget.
adjustable-rate mortgage (ARM) A mortgage or loan whose interest rate changes at some preset intervals (monthly, yearly, etc.) based on a preset formula. Compare with fixed rate.
alimony A share of a divorced person’s income that is paid to his or her spouse as part of an agreement or court order.
appreciation When an asset increases in value. Compare with depreciation.
APR Also known as annual percentage rate, this calculation ...

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