Just call us Bond. Amortized bond.
Over 700 finance terms, Shmooped to perfection.
Something that old people love to talk about.
Whenever granny says "Back when I was young, a new Ford cost $1,000," she's talking about inflation, the gradual increase in prices over the years. Thanks to inflation, money drops in value, so the $20 you stow under your bed today will be worth less in five years. By the time you're old enough to complain about it, that $20 won't buy much.
But, hey, at least you'll be able to complain about it.