Checkings
What is it called when you add money (check or cash) to your account?
Deposit
True or False - You should always use your savings account to pay your monthly bills?
False
IF you purchase a home and need a loan, which type of loan do you get?
Mortgage
What does APR stand for?
Annual Percentage Rate
What is the amount of money in your account called?
Balance
What is it called when you take money out of your account?
Withdrawal
What percentage of your paycheck should go towards savings?
10%
How many months would you have for a 5 year loan?
60
What does ATM stand for?
Automated teller Machine
The money you are paid after taxes are taken out?
Net pay or Take home pay
Making a payment using the internet with online banking?
Bill Pay
What agency provides deposit insurance for U.S. Banks?
FDIC - Federal Deposit Insurance Corporation
What are 3 things you need to be able to apply for a loan?
Deposit account, Steady Job, Good Credit History
Certificate of Deposit
The money you are paid before taxes are taken out?
Gross Pay
How many times a month can you withdrawal from your checking account?
Unlimited
How many withdrawals per month are you allowed on a savings account, if not in person
6
What type of rate tells you what your borrowed money will cost?
Interest
What does FAFSA Stand for?
Free Application for Federal Student Aid
What happens if you spend more money then what is in your account?
Bounced Check, Overdraw your account, NSF, Declined Debit card, overdraft fees
True or False - You don't need to keep a check register, if you only use a debit card?
False
Name one of the types of savings accounts available with FFB?
Earn E Eagle, Traditional, Money Market, Christmas Club, CD, HSA, IRA.
What does your monthly loan payment consist of?
Principal and Interest
What does FDIC stand for?
Federal Deposit Insurance Corporation
A card usually issued by the bank as an IOU, but must be paid back. Helps build your credit!
Credit Card