General banking
A bank account used every day for deposits and withdrawals
Checking account
When you borrow money from a bank to purchase something
Loan
A bank account used to hold money for later
Savings account
Your signature
How much money will you have saved in 1 year if you save $100 a month?
$1,200
What institution is owned by shareholders, for profit
Bank
A physical card that the bank lets you use to borrow a set amount of money with the promise of paying them back
Credit card
A plan for how you will spend and save your money
A budget
What is it called when you spend more money than you have in your account
Overdraft
What is it called when you do not pay your auto loan and the bank takes the car back
Repossession
What institution is owned by members, non-profit
Credit union
What is the specific loan called used to buy houses
Mortgage
Savings account for higher balances and higher interest rates
Money Market
What do you have to make if you find a fraudulent transaction on your account
A dispute
Money the government takes out of your paycheck to help our community
Taxes
Who is on the $100 bill
Benjamin Franklin
What is the 3 digit number that lenders use to determine if you are trustworthy
Credit score
What is a savings tool that the bank pays you to use but you cannot access your money for a set amount of months
CD (certificate of deposit)
Direct deposit
Legal process that takes away all debt but stays on credit report for 10 years
Bankruptcy
What agency insures your savings at the bank
FDIC (Federal Deposit Insurance Corporation)
What banks use to secure your loan (car,house,etc)
Collateral
Employer sponsored retirement savings plan
401K
located on bottom of check, 9 digits long used to tell which bank the check is from
Routing number
If you have $100 and spend $12 at Starbucks, $20 at Wing stop, $17 at Sephora, and $9 at target, how much money do you have left?
$42