Income & Banking
Money received on a regular basis, usually for work.
What is income?
A federal program of health insurance for people 65 and older.
What is Medicare?
Shares of ownership in a company.
What are stocks?
This card allows you to buy now and pay later, usually with interest.
What is a credit card?
A number that tells lenders how well you pay back loans.
What is a credit score?
A bank account allowing quick access to money for daily use.
What is a checking account?
A retirement plan typically offered by nonprofit organizations.
What is a 403b?
A pooled investment of stocks, bonds, and assets.
What is a mutual fund?
A loan not backed by collateral.
What is an unsecured loan?
The cost of borrowing money over one year, including fees.
What is Annual Percentage Rate (APR)?
A bank account that grows money over time with interest and isn’t used often.
What is a savings account?
Amount you must pay before insurance begins to cover expenses.
What is a deductible?
A person who buys or sells stock for someone else.
What is a stockbroker?
A loan used to pay for college.
What is a student loan?
Combining loans into one to make repayment easier.
What is debt consolidation?
Money given back, usually from taxes.
What is a (tax) refund?
An account you can contribute to through your employer (large businesses or corporations) to save for retirement.
What is a 401k?
An account where you invest in the stock market.
What is a brokerage account?
Something, usually money, that is owed or due.
What is debt?
A bank investment with a set term and guaranteed return.
What is a Certificate of Deposit (CD)?
A program that provides retirement benefits from the government.
What is Social Security?
This type of retirement account grows with tax advantages and is set up by individuals.
What is an Individual Retirement Account (IRA)?
A digital form of money that uses encryption for security.
What is cryptocurrency?
Borrowed money to buy a house or property.
What is a mortgage (or home loan)?
All of someone’s investments in one place.
What is a portfolio?