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<p><strong>10 Financial Terms for Savvy Money Management</strong></p><p>Financial vocabulary is often opaque and difficult to understand for those who don’t have a professional or educational background in the field. But the fact is that many of the terms we so often hear thrown around in economic contexts are tied to our financial well being.</p><p>That’s why it’s critical to understand some of the most frequently used terms in finance. They’re the building blocks of the systems and concepts that impact our bottom lines and influence how our money works.</p><p>Take a look at these 10 financial terms you should know.</p><div class="se-component se-video-container __se__float-" contenteditable="false" style="width: 100%;"><figure style="width: 100%; height: 56.25%; padding-bottom: 56.25%; margin: 0px;"><iframe src="https://app.vidjack.com/embed/9097" data-percentage="100%,56.25%" data-size="100%,56.25%" data-align="" data-file-name="9097" data-file-size="0" data-origin="100%,56.25%" id="vp_video_embed" style="width: 100%; z-index: 1000000; height: 100%;" data-index="0"></iframe></figure></div><div id="vp_embed_wrap" style="width:100%;"><span style="font-size: 16px; font-weight: 700;"><br></span></div><div id="vp_embed_wrap" style="width:100%;"><span style="font-size: 16px; font-weight: 700;">Net Worth</span><br></div><p>You’ve probably heard "net worth" applied to very wealthy people like Warren Buffet or Bill Gates. These folks are often referred to as “high net-worth” individuals because of the vast sums of money they’ve accumulated. But the truth is that everyone has a net worth. The term refers to your assets, like equity in your house, car, and savings account, relative to your liabilities, such as debt or loans.&nbsp;Tracking your net worth&nbsp;over time shows your progress toward goals that you may have, like paying for retirement or saving for a big purchase.</p>