What is the process of mapping decisions for spending, borrowing, and savings and investing in order to achieve financial goals?
100
is true or false: Debit cards allow you to draw funds directly from your checking account.
What is true?
100
is a Credit Union (define).
What is a non-profit business that functions like a bank and is owned by its members?
100
what it means to “reconcile” a checking account.
What is comparing recorded transactions in a checkbook register to the transactions that appear on the bank’s monthly statement?
100
is Interest.
What is the amount owed for borrowing money?
200
are the three big credit reporting agencies.
What are Equifax, TransUnion, and Experian?
200
is what a person should do if they find themselves in debt.
What is contacting the credit card company to try and negotiate new terms such as a lower interest rate?
200
is reasons to open a savings account.
What is guaranteed safety and security and interest on your deposits?
200
another name for take-home pay.
What is net pay?
200
is Compound Interest.
What is interest calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan? Compound interest can be thought of as “interest on interest,” and will make a deposit or loan grow at a faster rate than simple interest.
300
is a way to improve your credit score.
What is paying off your credit card bills? Paying on time and in full?
300
is a Credit Card (define).
What is a financial tool that provides people with revolving open-end access to funds that they can draw from repeatedly up to some preset limit?
300
is Equity (define).
What is ownership?
300
is reasons to use money in an emergency fund.
What are necessary expenses when a person loses a job or is unable to work because of illness or injury?
300
is how a person would be able to earn more interest on their savings account. (2 possibilities)
What is selecting an account with a high interest rate and leaving the money in the account for a long period of time?
400
is the equation to find net worth.
What is net worth = assets - liabilities?
400
is the feature of a credit card you would look for if you plan on carrying a large balance on your credit card.
What is a large credit limit?
400
is the purpose of a budget.
What is to help you plan how you will spend the money you earn or receive?
400
is the purpose of a check register.
What is a person keeping track of all deposits to and withdrawals from the checking account?
400
is the following term that doesn't describe a type of savings account: Certificate of Deposit, Money Market Account, and Checking Account
What is Checking Account?
500
is Liquidity (define).
What are assets that can be quickly and easily turned into cash; for example, a savings account?
500
is the annual percentage rate on a credit card. (what does this determine?)
What is the amount of interest you are charged on credit card purchases?
500
is the “Fed” and what they do.
What is the Federal Reserve, which is the central banking system of the United States that sets the nation’s monetary policy, supervises banking institutions, and maintaining the financial system’s stability?
500
is a great rule for saving your money.
What is putting aside money for savings each month?
500
is one of the following will give you the least access to your money: Simple savings account, Certificate of Deposit, Checking Account, or Cash.