Banking Basics
A debit
What is money withdrawn from an account.
A budget helps you manage these two things.
What is income and expenses?
Lenders charge you this to borrow money.
What is interest?
Banks and credit unions will pay you this for money you have in savings accounts.
What is interest or a dividend?
This is the #1 contact method used by fraudsters.
What is email?
If you don't have enough money in your account for a transaction you could pay one of these.
What is an overdraft fee?
Money left over after your necessary expenses are paid is called this.
What is discretionary income?
An auto loan is an example of this type of credit.
What is installment credit?
This type of savings account typically has higher interest rates.
What is a high-yield savings account?
Imposter scams were the top fraud category in 2023.
What is true?
Reported losses of $2.7 billion.
An easy, electronic way to manage a bank account.
What is digital banking or a mobile app?
The difference between gross and net pay.
Deductions
A credit card is an example of this type of credit.
What is revolving credit?
There are two types of high-yield savings accounts at a credit union.
What are share certificate and money market accounts?
A peer-to-peer app like Venmo is perfectly safe.
What is false?
Store your card here for easy mobile payments.
What is a digital wallet?
A budget or spending plan can help avoid these two things.
Debt, Stress
This three-digit number represents the likelihood you will pay your bills on time.
What is a credit score?
Saving for these is very important.
What are goals and unexpected expenses?
All ads on social media are safe for purchasing items.
What is false?
It's important to develop one with a financial institution.
What is a relationship?
Car repairs are an example of this type of expense.
Unexpected/Emergency
The most important factor of a credit score.
What is a good payment history?
This account is used to save for retirement.
What is an IRA?
This is the most common red flag spotted in fraud attempts.
What is a sense of urgency?