5 financial terms you're probably using all wrong

"It's not taught in high school," Bob Gavlak, CFP and wealth adviser with Strategic Wealth Partners in Columbus, Ohio, told Business Insider. "You get taught about parabolas and Venn diagrams in high school, but you don't get taught about taxes and budgeting and credit cards and mortgages, which would be much more helpful to your long-term personal success."

And then, he pointed out, we tend not to learn financial literacy in college or at work. When are we supposed to pick it up?

So it's no stretch to imagine that many of us are running our finances with some degree of misunderstanding.

Below, Gavlak helped us identify five common financial terms that many people regularly use incorrectly.