Vocabulary
Financial institution that accepts money deposits and makes loans
What is a Bank/Credit Union?
Money must be easy to carry around
What is Portable?
When your employer puts the same amount into your retirement account as you
What is Employer Match?
Full name of the Fed
What is the Federal Reserve?
Car payment
What is a Fixed Expense?
Ensuring you are invested in a range of investments
What is Diversification?
Money must be available, but limited
What is Scarce/Scarcity?
Government agency that protects bank deposits
What is the Federal Deposit Insurance Corporation (FDIC)?
What is Monetary Policy?
Groceries
What is a Variable Expense?
Costs that typically remain consistent each month
What is Fixed Expense?
Current money type
What is Fiat Money?
Employer-sponsored retirement savings plan
What is 401(k)?
Location of OUR Fed
What is Atlanta?
Income remaining after taxes and mandatory changes
What is Disposable/Net Income?
Currency in circulation and liquid banking accounts
What is M1 Money Supply?
Earliest form of economics; used representative money
What is a Barter Economy?
Number that reflects total interest earned on an investment account
What is Annual Percentage Yield (APY)?
Number of Fed regional banks
What is 12?
Account with money set aside for unexpected expenses
What is Emergency Fund?
Period where stock prices are sustainably decreasing
What is a Bear Market?
Strongest currency in the world ($1 U.S.= $0.39 of this currency)
What is Kuwaiti Dinar?
Bank account with the highest APY, on average
What is High-Yield Savings?
Amount of money banks hold in their accounts at the Federal Reserve Banks
What is Federal Reserve Requirement?
Mr. Dowd earns $3,600 a month, spends $1,373 a month of insurance and loans, another $1,400 on other expenses, and the rest on retirement. How much will be saved after 5 years?
What is $49,620?