Saving Tools
the most liquid savings tool
what is a checking account
overdraft fees
what is fees when you pull out more money then you have in your account.
when a person buys an item the don't need
what is impulse buying
where money can be sent to another person though and app
what is peer to peer payments
the purchase of goods and services
what is consumption
least liquid savings tool
what is a certificate of deposit (CD)
does overdraft protection really protect
it does not protect you
when a person doesn't have enough money for every day life
what is living from paycheck to paycheck
define interest
what is the amount of money you earn from a bank account
the amount of expenses saved
what is 3-6 months worth of expenses
a share account
what is a savings account
when the bank charges you
what is a fee
when the value money goes down
what is inflation
an act of taking out money from an account
what is a withdrawal
what is paying yourself first
minimum balance requirements and tiered interest rates.
the act of going under the amount of money you have
what is overdraft
a bank account for unexpected events
what is an emergency account
the act of placing money into an account
what is a deposit
what is automatic transfers
define liquidity
what is the speed at which assets can turn into cash
the fee when you use an out of district ATM
what is a foreign transaction fee
the affect of sales
what is making people belie they are getting a better deal so they spend more
the benefits of having more than one account
the ability to store more money and it is safer
earning interest on interest
what is compound interest