Banking
These are the two most common types of bank accounts.
What are checking and saving?
A roadmap to help you ensure you're spending your money in the right ways and to help you plan and save for bigger things.
What is a budget?
T/F: A credit card is when your bank gives you free money.
What is false?
This document is provided to you each time you earn a paycheck.
What is a pay stub?
This type of card is associated with a checking account.
What is a debit card?
Things like going on vacation and having extra spending money qualify as this.
What is a want.
This is the range of possible credit scores.
What is 300-850?
The traditional day each year by which you must file your federal taxes.
What is April 15th?
T/F: Different banking institutions have different interest rates for loans, mortgages, and bank accounts.
What is True?
Things like food and water, shelter, utilities qualify as this.
What is a need?
This is a number that banks and credit card companies use to find out how likely you are to pay back money on time.
What is a credit score?
These are the three payroll taxes removed from each of your paychecks.
What are social security, medicaid, and income tax?
T/F: Setting up direct deposit is the fastest way to get your money.
What is True?
Approximately ___% of your budget should be apportioned to housing.
What is 25-30%?
The three companies from which you can request your free annual credit report.
What are TransUnion, Equifax, and Experian?
The amount of money you bring home from every paycheck.
What is net income?
Having to have an internet connection is a limitation of this kind of banking.
What is online banking?
Roughly ___% of your income should go towards covering your needs (groceries, housing, insurance, etc.).
What is 50%?
These three things will help you establish good credit.
What are having only a few lines of credit open, paying all your bills on time, having a diverse assortment of credit open, not applying for lots of credit cards, paying your credit card off on time (other options as appropriate)?
The amount of money you make every month (not necessarily that you bring home).
What is gross income?