Don't Bank on It
Money In's and Out's
In's and Out's II
HodgePodge
We're Bonding
100
A financial institution that operates under federal and state laws and regulations. They can make loans, pay checks, accept deposits and provide other financial services. Their main focus is on taking deposits and originating home mortgages.
What is a THRIFT
100
A kiosk or terminal where you can deposit, withdraw or transfer money from one account to another 24 hours a day
What is an ATM, automated teller machine
100
Money you borrow from a bank with a written promise to pay it back later
What is a LOAN
100
A written explanation of how the company handles and share your personal financial information.
What is a PRIVACY NOTICE
100
A type of bond purchased at face value, which is the amount printed on the bond and must be held for at least 1 year before being cashed. It earns interest based on combining a fixed rate and an inflation rate
What is an I BOND
200
A non-profit financial institution owned by people who have something in common. You have to be a member in order to use the services of this institution.
What is CREDIT UNION
200
An account that lets you write checks to pay bills or to buy goods
What is a CHECKING ACCOUNT
200
A certain balance that banks might require you to have to open an account, earn interest or avoid fees.
What is a MINIMUM BALANCE
200
A formula that lets you estimate how long it will take for your savings to double in value given a particular interest rate. This calculation assumes the interest rate remains the same over time.
What is the RULE OF 72
200
A type of Savings Bond that is purchased at face value (historically it was half its face value) and earns a fixed rate of interest. Interest may be exempt from taxes if used for post-high school education expenses.
What is an EE Bond.
300
A business that offers you a safe place to keep your money and uses your deposits to make loans. This business is also called a financial institution.
What is a BANK
300
A bank account that allows you to add money to the account
What is a DEPOSIT ACCOUNT
300
Similar to a check. It is used to pay bills or make purchases when cash is not accepted. (it's not a pre-paid or debit card)
What is a MONEY ORDER
300
The difference between how much your home is worth and how much you owe on your mortgage.
What is EQUITY
300
An education savings plan operated by a state or educational institution. Designed to help families set aside funds to pay for future college costs.
What is a 529 COLLEGE SAVINGS PLAN
400
A money transfer that goes to a person or bank in another country
What is a REMITTANCE
400
A monthly record of the deposits and withdrawals made.
What is a BANK STATEMENT
400
A form of money transfer from one bank to another
What is a WIRE TRANSFER
400
When you spread the risk of loss over a variety of savings and investment options
What is DIVERSIFICATION
400
A debt instrument. A loan you make to local, state or municipal government or corporation for a certain period of time called a term. You earn interest on your loan investment, and when your "loan" matures you are also repaid the principal amount.
What is a BOND
500
A bank account that earns interest.
What is a SAVINGS ACCOUNT
500
An electronic method that an employer or government agency might choose to give you your paycheck or benefits check.
What is DIRECT DEPOSIT
500
A matched savings account in which another organization (e.g., a foundation, corporation or government entity) agrees to add money to your account to match what you save in it.
What is an INDIVIDUAL DEVELOPMENT ACCOUNT (IDA)
500
Provides protection against inflation, and interest is tied to the Consumer Price Index
What are TREASURY INFLATION PROTECTED SECURITIES (TIPS)
500
Loans to the U.S. government for a certain period of time, called a term. These debt instruments are backed by the full faith and credit of the U.S. government and include: Treasury Bills (T-Bills), Notes (T-Notes) and bonds (T-Bonds).
What are U.S. Treasury Securities
Click to zoom
M
e
n
u