A savings account with a specified time commitment that typically pays a higher interest rate than a regular savings account. You cannot make deposits or withdrawals (without a penalty) to the account during the term.
What is a Certificate of Deposit
100
Items that are essential such as food, shelter, clothing, healthcare
What are NEEDS
100
The crime or offense of deliberately deceiving another person in order to obtain property or services from him or her unjustly.
What is FRAUD
100
A two-week cash advance on one's paycheck that typically charges interest of approximately 400% annual percentage rate (APR)
What is a PAYDAY LOAN
100
An account that usually pays a higher rate of interest, and usually requires a minimum balance that is greater than a regular savings account in order to earn the higher rate. You can make deposits and withdrawals.
What is a MONEY MARKET ACCOUNT
200
An amount of money made available to a borrower with the expectation of repayment with interest
What is CREDIT
200
A loan to purchase a home in which the property is the collateral for the money borrowed.
What is a MORTGAGE
200
Borrowing amounts of money beyond what one can afford within one's budget
What is OVEREXTENDED
200
A warning sign
What is a RED FLAG
200
An account that earns interest. You will usually receive a quarterly statement that lists all your transactions: withdrawals, deposits, fees and interest earned
What is a STATEMENT SAVINGS ACCOUNT
300
A card used to borrow money to make purchases. The borrower must repay this money and is also responsible for paying finance charges that include interest and may also include fees on outstanding balances
What is a CREDIT CARD
300
Money paid by a financial institution to its depositors expressed as a percentage over a specific period of time.
What is INTEREST
300
The process by which the holder of a mortgage seizes the property of a homeowner who has not made interest and/or principal payments on time as specified in the mortgage contract.
What is FORECLOSURE
300
The amount of interest you will earn on a year basis. It is expressed as a percentage.
What is APY, annual percentage yield
300
The amount of money you have in your bank account
What is the BALANCE
400
A card used to withdraw money directly from one's checking account to make purchases or to get cash from an ATM machine.
What is a DEBIT CARD
400
Money borrowers pay to lenders as part of the finance charge of a loan
What is INTEREST
400
The economic crisis beginning with the stock market crash in 1929 and continuing through the 1930s
What is the GREAT DEPRESSION
400
The amount of interest you will pay on an annual basis expressed as a percentage
What is APR, annual percentage rate
400
Money you add to your bank account
What is a DEPOSIT
500
The entire amount of money a borrower owes to lenders
What is DEBT
500
The smallest monthly amount, usually based on a percentage of the outstanding balance, which a borrower is required to pay toward reducing debt.
What is MINIMUM PAYMENT
500
The illegal use of a victim's identity to fraudulently borrow money or access bank accounts or commit other crimes
What is IDENTITY THEFT
500
Interest paid on money that is invested, allowing the initial investment to increase over time.