/* Please refer to readme.html for full Instructions Text[...]=[title,text] */ var FiltersEnabled = 0 // if your not going to use transitions or filters in any of the tips set this to 0 Text[0]=["401(k)","A retirement plan that is funded with your before-tax salary contributions and often with a matching contribution from your employer."] Text[1]=["Adjustable Rate Mortgage","A type of mortgage in which the interest rate can change based on economic conditions."] Text[2]=["Annual fees","A yearly fee charged by credit card companies for the privilege of using or carrying their card. The fee is payable whether or not you use the card each year you have it. Annual fees typically range from $25 to $100 or more."] Text[3]=["APR or Annual Percentage Rate","The annual rate charged for borrowing or made by investing. It is expressed as a single percentage number representing the actual yearly cost of funds over the term of a loan and includes any fees or additional costs associated with the transaction."] Text[4]=["APY or Annual Percentage Yield","The actual percentage you are paid when you hold money in an investment for a fixed period of time. APY differs from APR in that it takes into account compounding, which means interest may be added to your account on a daily, monthly, quarterly or yearly rate."] Text[5]=["ATM Card","A card issued by a bank that is tied to a checking or savings account that allows the user to access his or her account via an Automated Teller Machine. An ATM card is typically used to make deposits, withdraw cash and make account balance inquiries."] Text[6]=["Billing Cycle","The period between billings for products and services. The timeframe between billing statements is typically one month."] Text[7]=["Bonds","A type of loan made to a company or the federal or local government. Interest is paid for the use of the money during a specified time, generally a few months to 30 years."] Text[8]=["Budget","An estimation of revenue and expenses over a specified period of time. Budgets can be made for an individual, a family or a group of people, a business, government, country or multinational organization or other entity that makes and spends money."] Text[9]=["Certificate of Deposit (CD)","A type of bank account in which the bank pays a set interest rate on a set amount of money over a predetermined period of time. A penalty is usually charged if the money in a CD is accessed before it has matured."] Text[10]=["Checking Account","A type of bank account from which an individual can access deposited money via check, ATM card or debit card."] Text[11]=["Compounding Interest","Interest which is paid on the original principal, as well as accumulated unpaid interest."] Text[12]=["Credit Report","A report which contains detailed information about a person's credit history. It typically includes identifying information, credit accounts, loans, bankruptcies, late payments and any recent inquiries. A credit report may be obtained by a prospective lender to determine his or her creditworthiness."] Text[13]=["Credit score","A credit score is a three-digit numerical rating that represents an estimate of an individual's financial creditworthiness as calculated by a statistical model. A credit score attempts to quantify the likelihood that a prospective borrower will fail to repay a loan or other credit obligation satisfactorily over a specified period of time."] Text[14]=["CSS Financial Aid Profile","A supplemental financial aid form processed by The College Board. This form is used by many private colleges and universities to award institutional funds."] Text[15]=["Daily Balance","The average amount in an account at the end of each day during a specific period of time divided by the number of days in that period."] Text[16]=["Debit Card","A card issued by a bank that combines the functions of a check and an ATM card. Debit cards can be used to withdraw cash at a bank like an ATM card, and it can also be used at stores to pay for goods and services in place of a check or credit card. Unlike credit cards, however, debit cards automatically withdraw money from your checking account at the time of the transaction."] Text[17]=["Direct Deposit","Electronic deposits or credit to an individual’s deposit account. Direct deposit is commonly used for payroll payments, Social Security benefits and income from investments."] Text[18]=["Education Tax Credit","A tax credit that can reduce an individual's (or business's) total tax burden on a dollar-for-dollar basis."] Text[19]=["Expected Family Contribution (EFC)","The amount of money that a family is expected to be able to contribute toward a student's education."] Text[20]=["Free Application for Federal Student Aid (FAFSA)","This form is used to apply for Pell Grants and all other need-based aid. As the name suggests, no fee is charged to file the FAFSA."] Text[21]=["Gapping","The difference between the cost of college and the financial aid that a student has been awarded."] Text[22]=["Grace Period","The amount of time you have to pay a debt in full without incurring an interest charge."] Text[23]=["Grants","A type of financial aid based on financial need that the student does not have to repay."] Text[24]=["Hidden costs or fees","Cost or fees related to activities or resources that appear to be free."] Text[26]=["Individual Retirement Account (IRA)","A personal savings plan that allows you to set aside money for retirement, while offering you tax advantages. An IRA could contain mutual funds, stocks, bonds or other types of investments."] Text[25]=["Insufficient Funds","The indication that there are not enough funds to cover a check."] Text[27]=["Interest","Interest is the money that you will earn for keeping your money in the account. On savings accounts, interest is typically compounded, which means the interest is added to the account periodically (monthly, for example), so you earn interest on the interest."] Text[28]=["London Interbank Offered Rate (LIBOR)","The most widely used benchmark for short-term interest rates worldwide."] Text[29]=["Minimum payment","The smallest amount which can be paid on a revolving credit account to avoid a penalty. The minimum payment is typically a small percentage of the balance or a minimum dollar amount."] Text[30]=["Money Market Account","A type of savings account that offers a higher interest rate, but also requires a higher minimum balance."] Text[31]=["Mutual Fund","Pools of money from different investors that are professionally managed. Mutual funds are typically invested in a combination of things, like stocks and bonds."] Text[32]=["Pell Grant","A need-based grant the Federal Government provides to low-income undergraduate students to help pay for college."] Text[33]=["Private Mortgage Insurance (PMI)","Extra insurance that lenders require from homebuyers who obtain loans that are more than 80% of their new home's value."] Text[34]=["Prime Rate","The most widely used standard in setting home equity lines of credit and credit card rates."] Text[35]=["Rate of Return",""] Text[36]=["Roth IRA","An individual retirement account in which contributions are nondeductible, the funds grow tax-free and withdrawals are tax-free, provided certain conditions are met. The Taxpayer Relief Act of 1997 created Roth IRAs for individuals who do not qualify for traditional IRAs because of income level or participation in employer-sponsored retirement plans."] Text[37]=["Student Aid Report (SAR)","The Student Aid Report (SAR) summarizes information reported on an individual’s FAFSA and indicates an individual’s official Expected Family Contribution."] Text[38]=["Savings Account","A type of bank account in which interest is paid on deposits made."] Text[39]=["Secured Credit","Any loan or line of credit in which collateral is pledged as security in the event that the borrower defaults on payments."] Text[40]=["Subsidized Loans","A type of loan in which the borrower does not pay interest."] Text[41]=["Supplemental Education Opportunity Grant (SEOG)","Federal grants awarded to undergraduates with exceptional financial need."] Text[42]=["Stocks","The shares of a particular company or corporation."] Text[43]=["Unsubsidized Loans","A type of loan in which the borrower must pay all accrued interest."] Text[44]=["Variable Interest Rate","An interest rate that will fluctuate with a certain measure or index, such as current money market rates or a lender’s cost of funds. Variable interest rate loans will typically have a fixed rate for several years and then become variable. A “rate cap” will usually protect the borrower from dramatic rate increases."] Text[45]=["Work-Study","A program that provides undergraduate students with part-time employment during the school year."] Text[46]=["Source","U.S. Newswire, April 4, 2006"] Text[47]=["Source","Students With Too Many Credits: New Survey Reveals More Than Half of College Students Charge Their Credit Cards To The Limit Some or Most of The Time. PR Newswire/OppenheimerFunds, 8/17/05"] Text[48]=["Charge Cards","A type of card similar to a credit card, but the cardholder is required to pay the balance in full each month. Late payments are subject to a fee, charge restrictions or card cancellation depending on the card agreement."] Text[49]=["Source","Undergraduate Students and Credit Cards in 2004: An Analysis of Usage Rates and Trends A study by Nellie Mae, published May 2005."] Text[50]=["Spyware","Technology that gathers information about a person or organization without their knowledge."] Text[51]=["Clear all Cookies","To clear a computer\'s cookies using Internet Explorer:To clear a computer\'s cookies using Mozilla FireFox:

If you are using a different Internet browser, check that software\'s help desk for assistance in clearing out the cookies and your other personal data from the computer.

"] Text[52]=["Note","This example assumes that you begin purchasing coffee at age 18 four times per week at $4/each for 52 weeks a year for a total of $832 a year. It is assumed that the money would be deposited into a Roth IRA for four years in a row and kept there at an 8% return for 45 years."] /* Style[...]=[TitleColor,TextColor,TitleBgColor,TextBgColor,TitleBgImag,TextBgImag,TitleTextAlign,TextTextAlign, TitleFontFace, TextFontFace, TipPosition, StickyStyle, TitleFontSize, TextFontSize, Width, Height, BorderSize, PadTextArea, CoordinateX , CoordinateY, TransitionNumber, TransitionDuration, TransparencyLevel ,ShadowType, ShadowColor] */ Style[0]=["white","black","#cc0000","#FFCC99","","","'left'","'left'","","","right","","","",200,"",2,2,10,10,"","","","",""] Style[1]=["white","black","#cc0000","#FFCC99","","","'left'","'left'","","","right","","","",400,"",2,2,10,10,"","","","",""] applyCssFilter()