Banking
This fee is charged to you when you spend money that you do not have in your checking account
What is an overdraft?
This is the main way you can earn a return on a stock investment
What are dividends
This document is often considered a key measurement of your credit worthiness
What is a credit report
This form is what most high school students have to use when filing their federal taxes.
What is a 1040
Expenses can be sorted into these two categories
What are fixed and variable expenses
These financial institutions are member driven and often offer higher savings rates and lower loan rates for potential customers.
What are credit unions
This is the percentage of income you should aim at saving each month
What is 20%
When applying for a car loan, the bank has to disclose the interest and fees to the customer. This would be considered this lending term.
What are the financial charges?
This type of auto insurance provides additional protection against damage by insuring events like hitting a deer or getting hail damage during a storm.
What is comprehensive insurance?
A spending and savings plan based on your expected income and expenses is called this financial term.
What is a budget
Transactions written and deducted from your checkbook but not showing up on your bank statement are called this
What are outstanding transactions
This is considered the 'golden rule' when playing the stock market
What is buy low, sell high!
Student loan payment plans usually take into effect at this point in time.
What is six months after you leave college via graduation or dropping out.
These are the two forms an employee must complete when getting hired for a new position
The process of matching your spending and income balances with your bank statement is called this?
What is reconciling or balancing
While credit card and loan interest are solid revenue earners for banks and credit unions, this source is currently ranked #3 for how banks can make money
What are Product Fees
(Daily Double!!!!)
This is how big your emergency fund should be
What is six months of living expenses
Having a grace period on a credit card allows a customer to accomplish this feat that could save them hundreds of dollars a year!
What is avoiding interest by paying your balance in full by the due date
This tax is not considered a payroll or income tax but is the most frequent tax Americans pay each year
What is Sales Tax
(Daily Double!!!)
This concept can be used as a simple framework when establishing a budget.
What is the 50/30/20 rule
When using a debit card for purchases in-person, the card machine will ask for this information before the transaction can be processed
What is a PIN
This investment option allows investors to buy into specific industries like energy and agriculture that offers potentially lesser risk than the stock market.
What is a commodity
When applying for a student loan, an applicant should consider this when determining when interest starts accruing
What is if the loan is subsidized or not subsidized
(DAILY DOUBLE!!!)
This form, provided by your employer, indicates how much you earned and the taxes you paid for the year
What is a W-2
What is writing their goal down.