You Can Take that to the Bank (Account)
Often used for day-to-day transactions, this account type allows you to access your money with both a bank card and paper checks.
What is a checking account?
This is a financial institution which holds money, lends money, and provides other financial services.
What is a bank?
This is a tool used to allocate money and track spending in order to meet financial needs and goals.
What is a budget?
Unforeseen or unplanned payments or bills that were not included in a budget
What are unexpected expenses?
The act of comparing price, quality, and features of goods and service before choosing the one that is the best fit.
What is comparison shopping?
Not to be confused with compact disks, this account type makes your funds inaccessible for a specific time while offering certifiably good returns.
What is a certificate of deposit (CD)?
Money given to an individual with the requirement to pay it back, often with interest.
What is a loan?
This term describes money that gets charged on a regular basis but inconsistent amounts.
What are variable expenses?
A separate account where someone deposits money that is only meant to be taken out in a crisis.
What is an emergency fund?
The act of willfully and knowingly misrepresenting the truth or concealing important information that results in harm, often monetary loss.
What is fraud?
This account provides low to moderate interest and can hold your emergency fund.
What is a savings account?
This is the act of adding money to an account.
What is to deposit?
This describes costs that that are regularly charged at a consistent cost.
What are fixed expenses?
Aspirations kept by a person which they hope to achieve in five (or more) years.
What are long term goals?
Unfamiliar transactions on your bank statement, errors in your credit report, and calls from debt collectors are all indicators of this.
What is identity theft?
This account often has higher minimum balance requirements than other savings accounts.
What is a money market account?
After the 1991 Truth in Savings Act, banks are required to disclose this measure of return on investment to consumers.
What is Annual Percentage Yield (APY)?
These expenses are different from person to person.
What is unique spending?
Essentially the weather for the financial state of a country, this sets expectations for the future of a country's overall financial situation.
What is an Economic Forecast?
A commerce arrangement where the seller is willing to accept lower payment for a good or service, often including OBO in the listing.
What is negotiable price?
Notable for operating independently of government bodies, these accounts offer high gain potential at a high risk.
What is crypto?
This government body was created in response to the 1929 stock market collapse to protect consumers against banks failing.
What is the Federal Deposit Insurance Corporation (FDIC)?
Money spent in this budget category goes towards goods or services that are required for survival.
What is a necessary expense?
The phenomenon behind the increasing prices of goods and services over time.
What is inflation?
An advertising tactic that involves highlighting positive reviews from, sometimes from influential people, to encourage people to purchase an item.