Banking
Maintenance, Service, Insufficient, Overdraft are all examples of what
Bank Fees
Define a Budget
What is a way to balance income/expenses/financial goals for a specific length of time
Credit is a type of what
What is debt
The difference between investing and savings
What is the risk/return
Lowering the value of an asset over its useful life
What is Depreciation
This type of banking account is used for everyday transactions like used debit card or ATM
What is a checking account?
Define Unit Pricing
What is Comparing on per-oz basis; Total Price / # oz
What is interest
What is an extra fee charged for not paying your card on time
Define Diversification
What is spreading risk over variety of asset classes
This is medical insurance for people over the age of 65 years
What is medicare
This fee is charged when you try to spend more money than you have in your account
What is an overdraft fee?
Define a Fixed Expense
What is a type of expense that is the same every month
What is something a credit can be used for
What is cars, houses, every day purchases, travel, online purchases
This allows you to earn money by gaining interest on your interest
What is compound interest?
Medical insurance for those with very low income
What is medicaid
This type of insurance protects up to $250,000 of your money in a bank account
What is FDIC insurance?
A savings account dedicated to covering unexpected expenses
What is an Emergency Fund
What is a credit score
What is a score between 300 and 850 used to represent your credit risk or how likely your gonna pay back on time
Pool of shares of a group of stocks, ect, by many investors
What is Mutual Fund
Until what age can you be on your parents health insurance plan
What is 26
This type of savings account may offer higher interest rates and have limits on transactions
What is a money market account?
Name All 4 Budgeting Strategies
What is 50/20/30 Budget, Pay Yourself First, Zero-Based Budget, Envelope Budget
What is a credit card
A card used to have a credit card company pay for your stuff expecting you to pay it back later as a small loan in a way
Hypothetical portfolio of investment holdings that represent a segment of the financial market
What is Market Index
Maximum amount you pay before the insurance company starts to pay for everything 100%
what is out of pocket maximum