Budgeting
what is checking account
A bank account for daily spending, depositing paychecks and paying bills
(True) or (False) Does it matter to identify needs and wants
True
what is a savings account
A secure deposit account at a bank or credit union designed for storing money you don't use for daily expenses that helps your money grow
True or false is it important to learn about budgeting and finances
True
what is a CD Certificates of Deposit
A type of savings account with a fixed interest rate and a fixed date of withdrawal
What is 401(K)
A employer-sponsored retirement saving plan that allows employees to contribute a portion of their paycheck into an investment account
What is credit
A financial arrangement where a borrower receives money, goods or services immediately and agrees to repay the lender at a later date