bank accounts
what does PIN stand for
personal identification number
how old do you have to be to get a credit card
18 years of age
this may include the money coming to you to sustane your needs such as rent ,child support, and your pay cheq
income
whats an expense?
the cost required for something
name 3 types of people who would work at a bank
manager, loan officer, teller
what are two common types of bank accounts
chequing
saving
what are some things you would buy with a credit card
car
house
traveling Arrangements (ex; flights)
online Purchases
something every spending plan should have
goals
name 3 fixed expenses
list of possible answers
2 pros and 2 cons to online banking are
pros(possible answeres)
paying bills is easy
simple set up and use
cons
your account getting hacked
websites may crash or be down
what is 1 advantage of online banking
list of possible answers;
what is credit
the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future.
two types of expenses are
fixed and varible
expenses that dont change each mont are called
fixed expenses
When a bank loans money to a person or a business, they charge a small fee to make money. What is this fee called?
intrest
name the 3 of the 5 largest banks in Canada
possible answers
credit card finance charges go as high as
23%
every spending plan should be
realistic
expenses that may change are called
variable expenses
A _____ is when a person decides to take some or all of their money out of their bank account.
withdrawal
A cheque is considered as stale when if has been in circulation for
more than three months
The first digit in your credit card number signifies
-the first number of your area code
-the credit card system
-the last number in your birth year
the credit card system
name 3 key points of a spending plan
income you earn before taxes and deductions
gross pay
When someone puts money into an account with a bank, this is called a _____.
deposit