Banking Basics
A bank account that usually earns interest.
What is a savings account?
Money paid monthly to keep insurance coverage.
What is a premium?
A small piece of ownership in a company.
What is a stock?
This form helps students apply for federal college aid.
What is FAFSA?
You keep money in an account mainly for everyday spending.
What is a checking account?
A bank account used for spending money with checks or a debit card.
What is a checking account?
The amount you pay before insurance starts covering costs.
What is a deductible?
A loan made to a company or government that earns interest.
What are bonds?
One benefit of having a savings account.
What is earning interest/keeping money safe/saving for goals?
You invest money in many companies at once to lower risk.
What is a mutual fund?
The percentage of interest you earn or pay.
What is an interest rate?
A fixed fee paid for a doctor visit or medical service.
What is a copay?
A mix of investments like stocks and bonds.
What is a mutual fund?
One thing you can do now to prepare for your financial future.
Possible answers: save money, budget, learn about investing, avoid debt
You go to the doctor and pay a small fee at the visit.
What is a copay?
When prices of goods and services increase over time.
What is inflation?
Insurance that helps cover medical expenses.
What is health insurance?
Money a business makes during a certain time period.
What is revenue?
Why should students fill out the FAFSA if they plan to attend college?
What is to qualify for grants, loans, and financial aid?
Your insurance helps pay for damage you caused in a car accident.
What is liability insurance?
When prices of goods and services decrease.
What is deflation?
This insurance covers damage caused to another person or their property in a car accident.
What is liability insurance?
One reason a stock may become more valuable over time.
What is company growth/profits/high demand?
Name one financial goal a teenager might save for.
Possible answers: college, car, emergency fund, housing
Prices for groceries, gas, and clothes rise over several years.
What is inflation?