Money Matters
The money you earn on your savings account
What is interest?
This account is for your everyday spending and bill-paying money
What is a checking account?
A plan for spending, saving, and earning money
What is a budget?
Plastic cards that look like credit cards, except they debit, or substract, money directly from your bank account
What is a debit card?
The earliest form of American currency made from beads and shells and strung in intricate patterns
What is wampum?
The original deposit amount
What is principal?
This account is for money you plan to spend in the future
What is a savings account?
If your outgo exceeds your income - also known as "going in the hole"
What is a deficit?
This banking tool allows you to access your bank accounts from anywhere in the world
What is an ATM?
The first US President that graces the front of the $1 bill
Who is George Washington?
The interest earned on the interest you've already earned on your principal balance
What is compound interest?
This account offers higher interest rates than checking accounts and sometimes higher interest than savings accounts
What is a money market account?
When your income equals your expenses
What is a balanced budget?
A convenient program preferred by many employers and government agencies as a way to put your paycheck directly into your bank account
What is a direct deposit?
The largest denomination in circulation
What is the $100 bill?
The math formula that determines the number of years it will take to double your $ at a given rate
What is the Rule of 72?
This account is a "time deposit" because you agree to leave your money in the bank for a specific period of time
What is a Certificate of Deposit?
Stash of money set aside for an urgent situation
What is an emergency fund?
This is a great tool to keep track of your money, pay bills, and transfer money between accounts
What is online banking?
This US President is on the $5 bill and on the penny
Who is Abraham Lincoln?
The method of calculating the interest amount for an amount of money at the rate of interest
What is simple interest?
This account is for anyone under 18 and you receive a gift when you open this account
What is the Charly's Club, Junior Savings Account?
Establishing an objective where you will work and plan to get there
What is goal setting?
This is when you can use your phone or watch to pay a retailer with just your mobile wallet
What is Apple or Google Pay?
This is on all US currency
What is an eagle?