Hi, My name is Hommy Diaz Jr. and I'm a 3rd grader. Inflation is no joke and education is expensive, so I'm starting to save and invest for college now. Should I start by putting all my loose change into a piggy bank? I don't think so,

HOMMY DON'T PLAY THAT!

Instead I'm putting my money in a 529 Savings Plan for college. This effort inspired me to create this website to introduce all my friends to the ABC's of finance. And help us get more familiar with the basic terms related to money.

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Join me on my journey of young entrepreneurship.

HOMMY DON'T PLAY THAT represents the mindset of not allowing anything to stand in the way of your education. All the proceeds from products sold will be invested in my 529 college savings plan. Thank you.

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The ABC's of Finance

A is for Asset

Something you invest in that makes you money.

B is for Banking

You put your money in a safe place instead of your wallet.

C is for Credit

Bank loans you money and you use your money to pay back the bank at the end of every month.

D is for Dividends

Receiving some of the gains from stock in a company.

E is for Equity

Owning part of a business.

F is for Finance

Managing your resources (ex. money, businesses, credit, investments, contracts, etc.).

G is for Gains

Increases in your resources.

H is for Habits

Practicing positive financial behaviors over time.

I is for Investments

Money that is put into a business or property for the purpose of generating a profit or income.

J is for Joint Account

An account in the name of two or more individuals that can withdraw or add funds.

K is for Keogh Plan

A retirement plan for individuals that are self-employed with tax benefits.

L is for Liability

Something that creates a debt.

M is for Money

Something that is of mutual value that can be exchanged for goods and services.

N is for Net Worth

Assets minus liabilities.

O is for Origination

How a bank reviews applications for financial products.

P is for Profit

Money made by a business after expenses and overhead cost are paid.

Q is for Quota

Something that is expected from an individual or a group of people.

R is for Risk

The possibility of an investment not performing as expected.

S is for Savings

Putting money in an account for it to accumulate over time and is usually associated with a bank.

T is for Taxes

Money paid to the government at the City, State, and Federal levels.

U is for Unsecured

Credit that is not supported by assets and is more risky to a lender.

V is for Valuation

Determining the value of an asset or business.

W is for Wages

Money that you receive after working at a job.

X is for Xenocurrency

Financial instruments that are traded outside of their original markets.

Y is for Yield

Money from an investment measured over a specific period of time.

Z is for Zero-Based Budgeting

Determining how every dollar in an individual's budget should be used every month.