Bankster
Money automatically sent from your paycheck into your bank account is called this
What is Direct Deposit?
The monthly fee you pay to keep an insurance policy active
What is a Premium?
This 4-digit code is required to access your money at an ATM
What is a PIN number?
Buying things that go up in value instead of down is called this
What is Investing?
Rent and car insurance are examples of this type of expense that stays the same each month
What is a Fixed Expense?
A bank account that allows you to write checks and make frequent withdrawals.
What is a Checking Account?
Something of value (like a house or car) used to secure a loan
What is Collateral?
Someone pretending to be a grandchild needing money urgently is an example of this
What is Fraud
A piece of ownership in a single company.
What is a Stock?
A written plan for where your money will go before the month begins
what is a Budget?
This federal agency insures bank deposits up to $250,000 per person
What is the FDIC?
The amount you must pay out-of-pocket before insurance starts covering the bill
What is a Deductable?
This scam involves fake emails trying to trick you into giving away your bank info
What is Phishing?
This type of interest is calculated on both the initial principal and the accumulated interest
What is Compound Interest?
This 3-letter term describes the "cost" of a loan, expressed as a yearly percentag
What is APR?
This is the term for when you spend more money than you actually have in your account.
What is an Overdraft?
The strategy of spreading your investments across different assets to reduce risk
What is Diversification?
DAILY DOUBLE
A scam where the caller pretends to be stranded in the United States and promises a financial reward for sending them money.
What is the Nigerian Prince?
A retirement account that allows your money to grow tax-free
What is an IRA?
The total amount of money you take home after taxes are deducted
What is Net Pay or Take-home Pay?
These are banks that are owned by their members and often offer lower fees.
What is a Credit Union?
Money set aside for unexpected emergencies
What is an Emergency fund?
A sign that the person you are speaking to might not be honest, and in fact could be a scammer or a fraudster
What is a Red Flag?
A market represented by an animal indicating that the market is performing Poorly
What is a Bear Market?
Things you would like to have but can live without are called these
What are Wants?