Personal finance
A percentage paid to a lender for the use of borrowed money is called
interest
Putting money into stocks, bonds, or mutual funds is called this.
Investing
I am the US federal agency that provides deposit insurance coverage for banks and banks put my sign in their window that shows they have this coverage.
What is the Federal Deposit Insurance Corporation (FDIC)?
I am what APR stands for in the context of financial transactions.The total cost to attend college, including tuition, fees, and living expenses.
What is Annual Percentage Rate
I am the electronic method allowing an employer to distribute your earnings directly into your checking account.
What is direct deposit or EFT
This document shows how much money is in your bank account and recent transactions.
Bank Statement
I am the form your employer requires you to fill out when you start a new job to help them calculate how much to deduct from your income each paycheck.Y
What is a W-4?
Failing to pay back your loans can hurt this key financial score.
Credit Score
Money in your paycheck that you earn after all taxes and fees are taken out.
What is Net pay or Take home pay
The account for holding money you don't plan to spend immediately
savings account
The total money you earn before taxes and deductions.
Gross Income
Ideal to pay for everyday transactions
Debit card
Money you pay upfront for a loan
Down Payment
The 2 types of taxes that together are called FICA taxes.
What are called Social Security and Medicare taxes.
The number that represents how responsible you are with credit.
Credit Score
Rent is an example of what type of expense
Fixed
I am the fee a bank would charge you if you spent more money from your checking account than you actually have in it.
What is an overdraft fee?
The S in SMART goals?
Specific
Something that you own that increases in value
Asset
When buying a house, what are the two things you have to pay for in your monthly mortgage payment?
Principal and Interest
I am the tax form your employer sends to you at the end of the year to confirm your salary and the deductions that have were taken out of your pay.
What is a W-2 form?
Paying only this amount on your credit card each month can lead to growing debt.
Minimum Payment
The idea that your money grows faster when you earn interest on both your principal and previous interest.
Compound interest
3 of the 5 things your FICO Credit Score consists of
Payment History, Amounts Owed, Length of Credit, New Credit, and Types of Credit
I am the date Tax Day (the last day to file your taxes) normally falls on unless it is a holiday or weekend.
What is April 15th?