Banking Basics
This is the automated machine you use to withdraw cash from your bank account without seeing a teller.
What is a ATM
This New York City street is famous for being the historic heart of the US financial markets.
What is Wall Street
It’s the simple itemized plan you create to track your income and expenses every month.
What is a budget
This is the official currency used by 20 countries in the European Union.
What is a Euro
This 4-letter word refers to money that you owe to someone else, like a loan or a credit card balance.
What is debt
Unlike a credit card, this type of card deducts money directly from your checking account when you make a purchase.
What is a debit card
This animal represents a stock market that is on the rise and doing well.
What is a bull
This is the general rise in prices over time, which reduces how much your dollar can buy.
What is inflation
This is the central bank of the United States, often just called "The Fed."
What is The Federal Reserve
This animal represents a stock market that is falling and where investor confidence is low.
What is a bear
This 3-digit score tells lenders how reliable you are at paying back borrowed money.
Buying a share of this means you own a tiny piece of a specific corporation.
What is a stock
This is the extra percentage cost you pay to borrow money, or the reward you earn for saving it.
What is intrest
This three-letter acronym represents the total value of all goods and services produced within a country in a year.
What is GDP (Gross Domestic Product)
This is the general term for an asset—like a house or a car—that a borrower offers to a lender to secure a loan.
What is collateral
This is the term for a fee charged by a bank when you spend more money than you actually have in your account.
What is a overdraft fee
This is a basket of different stocks or bonds that allows investors to easily diversify their money.
What is a mutual fund
If you earn $50,000 a year but only take home $40,000 after taxes, the $40,000 is known as this type of income.
What is net income
This 1930s historic event was the worst economic downturn in the history of the industrialized world.
What is the Great Depression
This is the magic financial concept where you earn interest on your interest, causing your money to grow exponentially over time.
What is compound interest
In the US, this independent government agency insures your bank deposits up to $250,000.
What is the FDIC?
This is the portion of a company's profit paid out regularly to its shareholders.
What is a dividend
This economic law states that if a product is in high demand but low availability, the price will go up.
What is the law of supply and demand
This is the specific term used when a country's economy experiences two consecutive quarters of negative growth.
What is a recession
This 4-letter acronym describes the profit you make when you sell an asset (like a stock or property) for more than you paid for it.
What is capital gain