Checking accounts
A card connected to your checking account.
What is a debit card.
The money you set aside for unanticipated expenses.
What is an emergency fund.
A digital account offering high interest rates but no physical bank.
What is an online savings account.
This method is used to help budget your income to provide money for you to save.
What is the 50/30/20 rule.
This is an example of a document your bank prepares for you listing all your debits and credits.
What is a bank statement?
The device found in stores that allows customers to access their bank accounts.
What is an ATM.
61% of the US population use most of their monthly income to cover monthly expenses.
What is living paycheck-to-paycheck.
What is a low balance alert.
The reason it is important for you to start saving when you get your first full-time job.
What is time.
The information on the back of the check allows the payee to deposit the check.
What is an endorsement?
This fee is a routine charge that you get from your bank for processing and handling.
What is a maintenance fee.
The type of savings accounts that allows a debit card and check writing privileges.
What is a money market account.
The tool that allows you to put money in your account from your phone.
What is a mobile deposit.
These are the 3 categories of the budgeting method that divides your income into three percentages.
What is savings, needs, and wants.
This card allows a person to make purchases by getting a loan each time they use the card.
What is a credit Card?
The digital movement of money from one bank account to another.
What is an EFT.
This formula PxRxT /100 helps you find the amount of money that your receive for leaving your money in your account.
What is interest.
This government programs is provided to banks to protect their customer's accounts.
What is FDIC Insurance.
The 50/30/20 budgeting rule provides an easy way to divide your money into categories using this income.
What is net income/ after-tax income.
A document that is filled out when you open an account so the bank recognizes that it is actually you who is making transactions.
What is a signature card?
This loan by your bank is provided for a fee if you spend more than you have in your account.
What is overdraft protection.
Principle (1 plus rate divided by number of times applied) Number of times applied x total time elapsed is the money that grows exponentially over time.
What is compound interest.
These people have bank accounts but rely on non traditional financial services for their financial needs.
What is underbanked.
Paying $500 deductible after a car accident to fix the vehicle, your budget is maxed, so it is okay for you to tap into this fund.
What is an emergency fund.
The fee charged to Emily's account when she made a debit payment for $153.22 and $230.88 when there was $376.00 in her account
What is an overdraft fee?