To borrow money (from a store, service provider, or credit card company) to make a purchase. If you do not pay the debt off in full within the card issuer's grace period (usually 25-28 days), you will pay interest on the amount you owe.

(sometimes called a check ledger). This booklet is usually kept in your checkbook, and you use it to keep track of all the deposits, withdrawals, and checks you write. After you write each in your register, you subtract or add the amount to your checking account balance. If you keep your register up-to-date, you will always know how much money you have in your checking account.

Interest on an investment, like a savings account, that is calculated not only on the money you originally invested, but also on any interest the investment has already earned.

A loan that enables people to buy something now and to pay for it in the future.

A small plastic card that identifies a person as a customer of a credit company and allows him or her to buy merchandise or services on credit and pay the money back at a later date.

The highest amount you may charge on a credit card. Your limit is set by your card company's opinion of your ability to handle debt.

A record of your borrowing and paying habits. Credit reporting companies track your history and supply this information to credit card companies, banks, and other lenders.

Credit agencies are companies that keep track of how you pay your debts or bills (credit history). Do you pay on time? Do you make the required payments? When you want to borrow money from a bank or apply for a credit card, the bank or the credit card company will ask a credit agency to rate you. Lenders want to know if you are a reliable bill payer before they approve your loan or credit card.

A type of investment that requires you to invest money for a certain length of time and guarantees to pay a higher interest rate than a regular savings account for that entire time. CDs usually require a minimum deposit.