Basics
This fee is charged if you spend more than your available checking balance.
Overdraft Fee
This is the "cost" of borrowing money, or the "reward" for saving it.
Interest
This three-digit number tells lenders how reliable you are as a borrower.
Credit Score
This is the most common repayment period (in years) for a standard home mortgage.
30 Years
This is your "take-home" pay after all taxes and deductions have been removed.
Net Pay
Unlike a bank, this financial institution is a non-profit owned by its members.
Credit Union
This type of interest is calculated on both the principal and the interest previously earned.
Compound Interest
his is the yearly interest rate charged on a credit card balance.
APR / Annual Percentage Rate
This monthly payment to your lender covers your property taxes and homeowners insurance.
Escrow
New employees fill out this form to tell the government how much tax to withhold.
W-4
This card deducts money from your account immediately at the time of purchase.
Debit Card
Natural resources like gold, oil, or wheat are known as this type of investment.
Commodities
This type of lender is criticized for charging extremely high interest on short-term loans.
Payday Lender
This insurance pays out a sum of money to "beneficiaries" when the insured person dies.
Life Insurance
This is your total income before any taxes are taken out.
Gross Pay
This account requires you to leave your money untouched for a set period to earn higher interest.
Certificate of Deposit / CD
Using the Rule of 72, if you have a 6% interest rate, your money will double in this many years.
12 Years
This is the term for a "buy now, pay later" arrangement.
Credit
This insurance provides liability protection that goes beyond your auto or home policies.
Umbrella Insurance
This form is sent to you in January and shows how much you earned and paid in taxes the previous year.
W-2
This is the process of comparing your personal records to your bank statement to ensure they match.
Balancing a Checkbook
This represents ownership in a corporation and carries a risk of losing money.
Stocks
Using 100% of your available credit limit will likely cause your score to do this.
Decrease / Drop
If you have a small down payment (less than 20%), a lender will likely require you to pay this.
PMI / Private Mortgage Insurance
This personal "status" (e.g., single or married) determines your federal income tax bracket
Filing Status