Financial Stages & Goals
This stage of life has the LOWEST earnings, since it's focused on building skills through school or training.
What is Education and Training?
This type of account is for everyday spending with easy, frequent access to your money.
What is a checking account?
This is the formula for a checking account's ending balance.
What is Previous Balance + Deposits − Withdrawals?
This term describes someone who doesn't use a bank or credit union at all.
What is unbanked?
This term describes how quickly you can access money without a penalty.
What is liquidity?
This acronym stands for Specific, Measurable, Achievable, Relevant, and Time-bound.
What is SMART?
This card is issued by an employer instead of a paycheck, and reloads each pay period.
What is a payroll card?
This fee is charged when a transaction processes despite insufficient funds.
What is an NSF (overdraft) fee?
This term describes someone with a bank account who still regularly relies on services outside the banking system.
What is underbanked?
This security practice adds a second verification step beyond your password.
What is two-factor authentication (2FA)?
This term describes the amount of loss an investor is able to accept.
What is investment risk tolerance?
This federal insurance protects your deposits if a bank fails.
What is FDIC?
This is the term for the fee charged when you withdraw money from a Certificate of Deposit before its term ends.
What is an early-withdrawal penalty?
Name one of the four barrier categories: Access, Documentation, Cost, or ___.
What is trust?
This account locks a lump sum for a fixed term, with an early-withdrawal penalty.
What is a Certificate of Deposit (CD)?
As people get older, their investment risk tolerance typically does this.
What is decrease?
Unlike a bank, this institution is member-owned and not-for-profit.
What is a credit union?
This is what you should call your bank to do if you confirm a charge on your statement is truly unauthorized.
What is report it / dispute the charge?
This short-term, high-fee loan is meant to be repaid by your next paycheck.
What is a payday loan?
This hybrid savings/checking account may allow limited check-writing.
What is a Money Market Account (MMA)?
This is a genuinely effective way to increase your earnings over your career — and it's not just "work more hours."
What is pursuing more education or job training?
This card is loaded with a fixed amount in advance and isn't linked to a bank account.
What is a prepaid card?
This is what happens to a debit card purchase — not a check — when it's declined under a No Overdraft Service option.
What is it's simply declined, with no fee charged?
For a $300 dinner split between 9 people, this payment method works best.
What is a P2P app?
This is why 2FA still matters even with a strong password.
What is it protects you if your password is stolen/leaked?