Banking/Investing
A bank account you use to easily deposit and withdraw funds into.
What is a Checking Account?
A 3-digit number that rates your ability to obtain a loan, mortgage, or another credit card.
What is a Credit Score?
The first step in creating a budget is separating your expenses into these two categories.
What are Needs vs Wants?
An amount of money set aside "just in case"
What is an Emergency Fund?
The motto that first appeared on US Currency in 1963
What is In God We Trust?
the collection of markets and exchanges where stock buying and selling takes place.
Hint for Vinny: "drop it like the NASDAQ"
What is the Stock Market?
A ____ will take money directly from your bank account. A _____ will "borrow" money until you pay for it at the end of the billing cycle
What is a debit card? What is a credit card?
The total amount of money you receive in a month.
A type of savings account that pays a higher number of interest than a normal savings account.
What is a High Yield Savings Account (HSA)?
What is the Dollar Sign ($)?
A not-for-profit bank owned by its members.
What is a Credit Union?
Credit card companies charge _____ each month on the balance you have on your card
What is Interest
Purchases you make every month that don't change (or change very little)
What are Fixed Expenses?
A savings account typically offered through employers that you can use to make medical purchases.
What is a Health Savings Account (HSA)
Added to the outside of dimes and quarters to prevent counterfeiting
What are ridges?
A for-profit organization that typically have many locations and ATMs available nationwide (example: Bank of America)
What is a Retail Bank?
the actual yearly cost of borrowing or earnings from an investment, presented as a percentage.
What is an APR (Annual Percentage Rate)?
Your total number of income minus all your expenses.
What is Net Income?
Offered by your employer to contribute to your retirement
What is a 401k?
More of this fake kind of money is printed each year than actual US currency?
What is Monopoly Money?
Most banks are insured by this corporation, making banking safe ways to store your money
A type of credit card where your credit limit is the amount of money you put down as a deposit
What is a Secured Credit Card?
This rule of thumb refers to the amount recommended to set aside for needs, wants, and savings
What is the 50/30/20 rule?
Similar to an HSA, but you need to "use or lose" the money in this kind of account.
What is a Flexible Savings Account (FSA)?
The only woman to appear on US currency (appeared in 1886 and discontinued in 1957)