BANKING
What account is commonly used to deposit paychecks and pay bills
Checking account
What number represents how trustworthy you are with borrowed money?
credit score
What is the money that the government take from you and businesses called?
taxes
budget
What is money you set aside for future use called?
savings
What account helps you earn interest while keeping your money available for saving?
savings account
What is money you would borrow from a lender called?
credit
What form shows you how much money you earn from your employer during a year?
W-2
What is money you receive from working or other things?
income
What is a goal that you would set money aside to reach?
savings goal
What is the money you currently have in your bank account called?
account balance
What do you pay a lender for borrowing money?
interest
What is the amount of income that is not subject to income tax called?
a deduction
What are the costs of things you buy or the bills you pay called?
expenses
What is buying something and hoping that its value will increase called?
investing
What is the fee called when you spend more money than you have in your account?
overdraft fee
What happens to your credit score if you regularly make payments on time?
it would improve
What is the tax charged by the government on your income called?
federal income tax
What type of rate stay the same for about a month, like rent?
fixed rate
What is money you earn from an investment called?
return
What is the interest rate a bank pays you for keeping money in a savings account?
Annual Percentage Yield (APR)
What is the percentage of the credit you are able to use called?
credit utilization
What is the money you receive from the government for paying more than you owe?
tax refund
What is money called that you would put aside for unexpected situations?
emergency fund
What is spreading your money across different investments called?
diversification