Banking
lets you store cash safely and securely while enjoying easy access to your money with debit cards, electronic transfers, or checks
What is a Checking Account?
the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future.
What is Credit?
a share in the ownership of a company purchased as an investment
What is a stock?
a fixed amount of money or compensation paid to an employee by an employer in return for work performed.
what is Salary/Earnings?
a plan to determine how you will use your money, spending as well as saving.
What is a budget?
a deposit account (one you can access) at a bank or financial institution, allowing customers to save money while earning interest
What is a Savings Account?
money you owe a person or a business
What is Debt?
where investors buy and sell shares of companies
What is the stock market?
all the money you earn before taxes and other deductions are subtracted
What is Gross Income?
the costs associated with things you buy or do for yourself or your household
What are expenses?
a savings account that holds a fixed amount of money for a fixed period of time, such as six months, one year, or five years, and in exchange, the issuing bank pays interest.
What is a Certificate of Deposit?
a number that estimates how likely you are to repay a loan or credit card and make payments on time.
What is a credit score?
issued by companies or governments - pay a stated interest rate and have a set maturity date- in return for the use of money.
What is a bond?
the amount of money you bring home after taxes and other deductions are taken out of your paycheck.
What is Net Income?
'NET' IS WHAT YOU GET.
anything you own that holds monetary value.
What is an asset?
What is a Debit Card?
a small plastic card issued by a bank, business, etc., which is essentially a means of borrowing money that is accompanied by interest and sometimes fees
What is a credit card?
a pool of money from many investors and invests the money in securities such as stocks, bonds, and short-term debt.
What is a Mutual Fund?
another name for your net income
What is Take-Home Pay?
total value of your assets minus the total value of your liabilities.
What is Net Worth?
a fee charged by a bank when a customer spends more money than they have in their account
What is an overdraft fee?
a legal proceeding initiated when a person or business cannot repay outstanding debts or obligations
What is bankruptcy?
a distribution of earnings, often quarterly, by a company to its shareholders in the form of cash or stock reinvestment.
What is a dividend?
the number one rule for saving money
HINT: PYF
What is Pay Yourself First?
a separate savings account that you use to cover unexpected expenses. It's a safety net.
What is an Emergency Fund?