Show Me the Money!
This is the money you take home from your paycheck after taxes and deductions.
What is net pay?
A plan for how to spend your income each month.
What is a budget?
A plastic card that lets you borrow money to make purchases, which you must pay back later.
What is a credit card?
A financial institution that provides accounts and loans while aiming to make a profit.
What is a commercial bank?
A piece of ownership in a company that can increase in value over time.
What is a stock?
The amount of money you pay monthly for insurance coverage.
What is a premium?
This government agency collects federal taxes and issues tax refunds.
What is the IRS (Internal Revenue Service)?
This is the extra money you have after paying all your bills, which you can spend or save.
What is discretionary income?
The highest amount of money you are allowed to borrow on a credit card.
What is a credit limit?
This federal agency insures deposits in banks up to $250,000.
What is the FDIC (Federal Deposit Insurance Corporation)?
The profits a company pays to its shareholders, usually every three months.
What are dividends?
The money a person receives from a life insurance policy when the insured person dies.
What is a death benefit?
This is the term for money you receive that is not from working, like lottery winnings or inheritance.
What is windfall income?
A savings account that provides easy access to funds while earning interest, often requiring a higher balance than a regular savings account.
What is a money market account?
A loan that has an asset as security, meaning the lender can take the asset if you don’t repay.
What is a collateralized loan?
This type of financial institution is owned by its members and usually offers lower fees than banks.
What is a credit union?
The major U.S. stock exchange known as the "Big Board."
What is the New York Stock Exchange (NYSE)?
This type of car insurance pays for damages to your vehicle in an accident.
What is collision insurance?
The term for the amount of money you earn before any taxes or deductions are taken out.
What is gross wages?
A financial strategy where you put money into savings before paying any bills or expenses.
What is "pay yourself first"?
The three key factors (or C’s) that determine whether someone qualifies for a loan.
What are capacity, character, and collateral?
A service that automatically transfers your paycheck into your bank account without needing a paper check.
What is direct deposit? What is electronic funds transfer (EFT)?
A fund that pools money from multiple investors to buy a mix of stocks and bonds.
What is a mutual fund?
The amount you must pay before your insurance covers the rest of the cost.
What is a deductible?
This economic concept describes how the price of goods and services is determined by the availability of resources and consumer desire.
What is supply and demand?
The difference between the total amount earned and the total deductions taken out of your paycheck is called this.
What is net pay?
A legal claim on someone’s property that allows a lender to collect unpaid debt.
What is a lien?
A loan where you deposit money for a fixed time and cannot withdraw without a penalty.
What is a certificate of deposit (CD)?
The two types of market trends in which stock prices either rise or fall significantly.
What are a bull market and a bear market?
This government-mandated insurance provides financial support if you lose your job.
What is unemployment insurance?