Vocabulary

• Budget – An estimation of revenue and expenses over a specific future period of time.
• Income – Money received on a regular basis, often for work or through investments.
• Expenses – The cost required for something; the money spent on something.
• Savings – The money one has saved, especially through a bank or official scheme.
• Debt – Money that is owed or due.
• Emergency Fund – A stash of money set aside to cover the financial surprises life throws your way.
• Insurance – A contract in which an individual or entity receives financial protection or reimbursement against losses.
• Life Insurance – A contract with an insurance company that provides your beneficiaries with a certain amount of money upon your death.
• Health Insurance – A type of insurance coverage that pays for medical and surgical expenses incurred by the insured.
• Education Fund – A fund set up to save for a child's future education expenses.
• Retirement Savings – The amount of money that a person has saved for retirement.
• Financial Planning – A comprehensive evaluation of an investor's current and future financial state.
• Investment – The action or process of investing money for profit or material result.
• Stock Market – A place where shares of public listed companies are traded.
• Bonds – A fixed income instrument that represents a loan made by an investor to a borrower.
• Mutual Funds – An investment program funded by shareholders that trades in diversified holdings and is professionally managed.
• 529 Plan – A tax-advantaged savings plan designed to encourage saving for future education costs.
• Estate Planning – The preparation of tasks that serve to manage an individual's asset base in the event of their incapacitation or death.
• Will – A legal document that expresses a person's wishes as to how their property is to be distributed after their death.
• Trust Fund – A fund consisting of assets belonging to a trust, held by the trustees for the beneficiaries.
• Mortgage – A loan secured by real property through the use of a mortgage note which evidences the existence of the loan and the encumbrance of that realty.
• Down Payment – An initial payment made when something is bought on credit.
• Credit Score – A number assigned to a person that indicates to lenders their capacity to repay a loan.
• Tax – A compulsory contribution to state revenue, levied by the government on workers' income and business profits.
• Child Tax Credit – A tax credit offered in some countries, which is designed to help families offset the cost of raising children.
• Maternity/Paternity Leave – A period of absence from work granted to a mother or father before and after the birth of their child.
• Childcare – The action or skill of looking after children by a day-care center, babysitter, or other providers.
• Pediatrician – A medical practitioner specializing in children and their diseases.
• Baby Supplies – Essential items needed for the care and upbringing of a baby.
• Childproofing – The act of making an environment or object safer for children.
• Parenting Classes – Classes or courses that teach parents about childbirth and parenting techniques.
• Midwife – A trained health professional who helps healthy women during labor, delivery, and after the birth of their babies.
• Doula – A trained professional who provides continuous physical, emotional and informational support to a mother before, during and shortly after childbirth.
• Prenatal Care – The health care you get while you are pregnant.
• Postnatal Care – The care given to the mother and her newborn baby immediately after the birth and for the first six weeks of life.
• Obstetrician – A doctor who specializes in pregnancy, childbirth, and a woman's reproductive system.
• Fertility Treatment – Medical procedures that assist an individual or couple to become pregnant.
• Adoption – The action or fact of legally taking another's child and bringing it up as one's own.
• Foster Care – A system in which a minor has been placed into a ward, group home, or private home of a state-certified caregiver.
• Surrogacy – An arrangement, often supported by a legal agreement, whereby a woman agrees to bear a child for another person or persons, who will become the child's parents after birth.
• Family Planning – The practice of controlling the number of children in a family and the intervals between their births.
• Child Support – Court-ordered payments, typically made by a noncustodial divorced parent, to support one's minor child or children.
• Alimony – A husband's or wife's court-ordered provision for a spouse after separation or divorce.
• Custody – The protective care or guardianship of someone or something.
• Parental Rights – The legal rights and responsibilities that parents have regarding their child's upbringing.
• Parenting Styles – The different ways in which parents raise their children.
• Parent-Teacher Association (PTA) – A formal organization composed of parents, teachers and staff that is intended to facilitate parental participation in a school.
• Home Schooling – The education of children at home, typically by parents or tutors, rather than in a public or private school setting.
• Nanny – A person, typically a woman, employed to care for a child in its own home.
• Babysitter – A person who looks after a child or children while the parents are out.