Earn it
A short-term position you take to earn cash, compared to a long-term career.
What is a job?
Managing your money through apps and websites rather than visiting a physical bank.
What is electronic banking?
A type of savings account that pays higher interest but requires you to keep your money locked away for a set period of time.
What is a certificate of deposit?
The original amount of money you deposit into savings or borrow on a loan before any extra charges are added.
What is the principal?
Marcus wants to know what his $500 savings account balance will be worth in 10 years. He is looking for this specific mathematical calculation.
What is future value?
A natural talent/ability that makes it easier for you to learn certain skills or succeed in different careers.
What is a aptitude?
Money in checking and savings accounts that can be accessed immediately and spent without a delay.
What are liquid assets?
A savings account offered by banks that usually pays a higher interest rate and allows you to write a limited number of checks each month.
What is a money market account?
The cost of borrowing money or the reward for saving it (calculated as a percentage).
What is interest?
Sarah wants to buy a house so she takes out a specialized, long-term bank loan used specifically to purchase real estate. What is this loan called?
What is mortgage?
A one page summary of your education, work history, and skills used to apply for a job.
What is a resume?
This card is connected directly to your checking account, which withdrawls funds the exact moment you pay for an item.
What is a debit card?
An employer given retirement plan that allows you to save a portion of your paycheck before taxes are taken out.
What is a 401k?
The mathematical process where you earn interest on top of the interest you have already made.
This type of home loan features an interest rate that can shift up or down over time depending on the economy.
A formal introduction letter sent with your resume to explain why you are the perfect fit for a specific opening.
What is a cover letter?
The contract you sign when renting an apartment, which usually requires a security deposit upfront to cover any potential damages.
What is a lease?
A series of equal financial payments made at fixed intervals over a set period of time.
What is a annuity?
The actual yearly cost of borrowing money on a loan or credit card (calculated as a percentage).
What is the annual percentage rate?
When finalizing his home loan, David had to pay extra fees to the bank called points to lower his interest rate.
What are closing costs?
The level of wealth, comfort, and goods available to a person or a geographic area.
What is a standard of living?
A financial crime where someone steals your personal information to open credit cards or take out loans in your name.
What is identity theft?
A loan you make to a government or corporation that pays you back over time with fixed interest payments.
What is a bond?
Land and any structures built, like a house or an apartment building.
What is real estate?
A home is listed for sale. The actual price a buyer is willing to pay for it on the open today is known as this type of value.
What is market value?