Banking
Name 2 types of accounts you could have at a bank.
Savings account, Checking account, Certificate of Deposit (CD), Business account
Who is on the $100 bill?
Secretary Alexander Hamilton
What is it called when your paycheck goes directly into your bank account?
Direct Deposit
What is the largest and most popular bank in America?
JPMorgan AKA Chase Bank
What are three ways that you can deposit a check?
Deposit at the bank list on check. Deposit at ATM. Mobile deposit
What number is considered "excellent" credit?
800 and above
What percent of young adults between the ages of 18 and 34 have some form of debt?
78%
What do you need to open a bank account?
A valid government ID (license, state ID, passport), and money for an initial deposit
What is a debit card?
A card you can use to pay for items that takes money directly from a checking account.
If you only pay the minimum amount on your credit card bill you will owe...
What is interest
What is gross pay?
Full amount of money you earned before any deductions
True or False: If you are given a check, you can cash it at any bank.
False. You can only cash checks at banks where you have an account, or at the bank listed on the check (not including ATMs).
What is a credit card?
A card you can use to purchase items even if you don't have the money upfront. *Not paying your bill on time incurs interest!
When you have this a lender thinks it is risky to lend you money.
What is bad credit
What is the most commonly used budgeting model?
50/30/20 Plan. 50% needs, 30% wants, 20% savings
What happens if you spend more money than is in your bank account?
Overdraft fees. Fees can vary by bank.
What is a paystub?
An earnings statement that tells you:
- How much money you have earned
- The time or pay period you are getting paid for
- What taxes have been taken out
When was the very first dollar coin made in the US?
1794