Moola
Allows individuals and businesses to deposit, withdraw, and manage funds for financial needs like paying bills, receiving payments, and making purchases.
Bank account
A payment card that allows you to access your money from bank checking or savings accounts where you can't accrue interest or debt because your purchases are limited to the amount that you have in your bank account(s).
Debit Card
Type of loan that helps students finance their post-secondary education, covering costs like tuition, books, and living expenses. Subsidized loans have the interest accumulated paid by the government and unsubsidized loans have any and all interest accrued to be paid by the borrower.
Student Loans
Bank account designed to hold money that you're saving, not for day-to-day spending, and it typically earns a small amount of interest on the balance.
Savings Account
Unique identifier for each account, used to track transactions and ensure they are applied to the correct account.
Account Number
List of your transactions, the amount you owe, and the due date.
Credit Card Statement
Type of loan where the price of the car is borrowed, minus any down payment. The vehicle serves as collateral and can be repossessed if the borrower stops making payments. Typically last 70+ months.
Auto Loan
Type of savings account with interest rates that are typically significantly higher than the national average for regular savings accounts, sometimes 10 to 20 times greater.
High-Yields Savings Account
The number used to identify the specific financial institution holding the account.
Routing Number
The amount of credit you're using compared to your total credit limit.
Credit Utilization
A loan that covers the purchase price of a home minus any down payment. The property acts as collateral, which can be foreclosed by the lender if payments are missed. Typically repaid over 10, 15, 20 or 30 years.
Mortgages
A retirement savings account where you contribute after-tax dollars, allowing your investments to grow tax-free and be withdrawn tax-free in retirement.
ROTH IRA