Banking
The most frequently used account that generally allows unlimited debit transactions
What is a checking account?
The term for a money management plan.
What is a budget?
A share or equity that signifies ownership in a corporation.
What are stocks?
Buying something on credit is essentially borrowing money you don't have. This is another word for borrowed money.
What is a loan?
The tax that is withheld from each paycheck to fund Social Security.
An account that earns a percentage of interest annually.
What is a savings account?
An account you pay into monthly to protect yourself against catastrophic expenses.
The saying goes the higher the ______, the higher the reward. There's a little in every investment.
What is risk?
This word has two meanings in finance--when you are talking about accounting, it means a deposit. When you are talking about debt, it means something else.
What is credit?
Roughly 7% that you need to plan on adding to the cost of every purchase.
What is sales tax?
An account created for people with disabilities to protect their funds from counting as an asset. These funds can be used for living expenses like rent.
The phenomenon used to explain money saved by sacrificing a small daily purchase.
A retirement account with contributions from an employer and an employee
What is an IRA?
A number calculated based on your spending habits and your debt to income ratio. It needs to be around 700 for you to buy a home.
What is a credit score?
These now come in the form of a card, and are provided by the SNAP program. They help with the cost of groceries.
What are food stamps?
A high-yield savings account that can't be used for a specific amount of time.
What is a certificate of deposit?
An online security measure using two devices to access an account.
What is multifactor identification?
The place in New York City where stocks are purchased and sold.
What is the Exchange?
This is a tool used to build credit and increase your credit score if you use it correctly, by paying off the balance each month.
What is a credit card?
The amount that every citizen gets to claim on their taxes to account for themselves.
What is a standard deduction?
An account that combines the benefits of a savings account (earning interest) and a checking account (allowing debits directly from the account). This account usually requires a minimum balance and may have a limit on the number of checks or debits per month.
What is a Money Market Account?
Software that encrypts your IP address to increase online security and anonymity.
An account that pays taxes prior to saving money for retirement, so that taxes do not need to be paid when the money is withdrawn.
What is a Roth IRA?
A technique used to pay off debts starting with the easiest and applying that amount to another debt until all debts are paid.
What is snowballing?
What is the IRS or Internal Revenue Service?