Banking Basics
This machine lets you withdraw cash, check balances, or deposit money without going inside the bank.
What is an ATM?
This card allows you to make purchases and pay them off later.
What is a credit card?
This free form is required to get most financial aid for college.
What is the FAFSA?
What is Clothing/Accessories?
This tasty food word (especially in Wisconsin) is also another word for money.
What is cheese?
These are the two main kind of banking accounts
What are checking and savings?
This three-digit number tells lenders how trustworthy you are with money.
What is a credit score?
Student loans often don’t require payment until after this event.
What is graduation?
This category of expenses stays the same every month — like rent or a car payment.
What are fixed expenses?
This patriotic first name is commonly used for a $100 bill.
What is Benjamin?
This kind of bank charge happens if you spend more money than you actually have in your account.
What is an overdraft fee?
What number represents a perfect credit score?
850
These are kids of money offered to students that they generally don't have to pay back.
What are grants and/or scholarships?
DAILY DOUBLE - Money you spend on things like food, gas, or entertainment — which can change monthly — are called these.
What are variable expenses?
20 g's is this much money.
what is $20,000
This type of card lets you spend your own money right from your checking account — not borrowed money.
What is a debit card?
This is the maximum amount a credit card allows you to borrow.
What is a credit limit?
The total amount of money borrowed on a student loan that you have to pay back is called this.
What is "principal"
What do you call the portion of your income (pay check) after taxes and other withholdings are taken out?
What is your "Net Pay"?
If someone is "have'n" they are a person that has a lot of this.
What is paper?
Banks give you this small amount of extra money for keeping your cash in a savings account — though it’s usually tiny.
What is interest?
Name at least two things that influence your credit score.
Payment History, Amount of Debts Owed/Available Credit vs Balance, Length of Credit History, "Credit Mix" (types of accounts), New Credit Activity
DAILY DOUBLE - According to reports this is the average amount of loans debt a student will have after a 4 year, bachelor degree.
What is $30,000-$40,000?
(On average it take someone 20 years to pay that off)
A common budgeting principle say that you should allocate 20% of your regular income to this.
What is savings?
This unfortunate term for when something doesn't work anymore also means someone has no or little money.
What is "broke"?