Basics
What is the amount of money in your paycheck called before deductions?
Gross Pay
50% of money should go toward...
Needs
How many forms of ID do you need to open a Bank account?
Two
What is the name of the rating scale where the higher the number, the more likely it is that you will repay money loaned to you?
A credit score
What is the amount of money borrowed called?
the Principle
What is the amount of money in a paycheck after deductions called?
Net Pay
30% of money should go toward...
wants
What is money being put into your bank account called?
A deposit
What is the name of the card that uses money you already have in your checking account?
A debit card
What is the charge added for borrowing money called?
an interest rate
What is the tax form called that is given to you by your employer and is filled out with your wages and tax deductions?
W2
20% of money should go toward...
Savings
What is the type of bank account that gains interest and grows money?
Savings account
What is the name of the card that uses money from a lending company?
A credit card.
What is the length of a loan called?
Term
What is the tax form called that is given to you by your employer and you fill out yourself?
W4
Types of expenses that don't change are called...
Fixed expenses
What is the type off account that gives you easy access to your money to withdraw or make payments.
Checking account
A credit score check that doesn't hurt your credit score is called what?
A soft pull
What is it called when you give part of the money owed for the loan first?
A down payment
Taxes and benefits removed from your gross income are called what?
Deductions
Types of expenses that change each month are called..
Variable expenses
What is it called when money is scheduled to move from or to your account automatically?
Direct deposit.
missed payments, amounts owed and how long you have had credit are included in your ....
Credit history
Loan interest rates are determined by...
your credit score