Saving Accounts
Most basic account to begin saving money
What is a savings account?
A card that has preapproved credit on it
What is a credit card?
A organization that provides people with financial assistance
What is a financial institution.
What is net income?
The ability of having only a certain amount of money to spend
What is a budget?
The corporation that funds saving accounts
What is the FDIC?
A card used that allows for an immediate transfer of money from a savings account
What is a debit card?
An organization that provides your money with protection from theft, and federally insured
What is a bank?
Funds or money collected by governments to pay their bills
What are taxes?
Items and bills needed to be payed for
What are expenses?
A professionally managed investment with collective money from shareholders
What is a mutual fund?
The ability to borrow small or large amounts of money
What is credit?
A certain amount of money borrowed by a financial institution
What is a loan?
Building such as public schools, local libraries, prisons, parks, and etc
What are buildings funded by tax?
Items and bills that do not change from month to month
What are fixed expenses?
A bank account that allows a higher interest rate and require you to have larger amounts of money in it for longer periods of time
What is a certificate of deposit?
A legal process that provides a debtor protection from creditors
What is a bankruptcy?
An organization that provides better rates and community focus
What is a credit union?
Social programs, social programs, and government administration
What are programs and organizations funded by tax?
The next best alternative given when making a financial decision
What is a opportunity cost?
Essentially a IOU
What is a bond?
A legal process in which a lender legally takes possession of a mortgaged property from a mortgage holder
What is foreclosure?
A social insurance program designed to provide older adults with affordable health care
What is Medicare?
Based on income of individuals or businesses
What is federal income tax?
Money that is available to spend on unnecessary goods and services
What is discretionary income?