Ducks
For transactional purposes
What is a checking account?
How much money does the FDIC insure?
What is $250,000?
When should you start saving for retirement?
IRS document you complete for your employer to determine how much should be withheld from your paycheck
What is a W4?
Number of selfies an average teen takes in a year....
(come within 1000)
What is 5,000?
a household that has a bank account but lacks adequate access to other traditional financial services, such as credit and loans.
What is underbanked?
A debit card pulls money from this account
What is a checking account?
few fees, pays interest, limited transactions
What is a savings account?
FDIC
Federal Deposit Insurance Corporation
households without a checking or savings account
What is unbanked?
offers higher interest rates than traditional savings accounts and provides features like check-writing or debit card access
What is a money market account?
Not for profit institution.
What is a credit union?
No worries about brick and mortar.
What is an online bank?
This financial institution provides personalized service, invests back in the local area, supports local growth, and loans and credit decisions made locally.
What is a community bank?
He didn't make a lot of money in his life but ended with more than $7,000,000. And he's from Vermont.
Who is Ronald Read?
fee to cover a bank's costs for managing your account
What is a maintenance fee?
Taking more risk than otherwise would be the case because protected
What is a moral hazard?
It's when you transfer money from one account to another to protect yourself in case you do not have enough.
What is a overdraft protection?
a special type of savings account that holds a fixed amount of money for a predetermined period. Also known as a timed deposit.
What is a certificate of deposit (CD)?
a household that has a bank account but lacks adequate access to other traditional financial services, such as credit and loans.
What is underbanked?
taxes shared by you and your employer which fund mandatory programs
What is FICA?
it's the foundation for filing your taxes
What is a 1040?
a specific dollar amount that reduces the amount of income on which you're taxed.
What is a standard deduction?
Percent of US teens that have access to a smartphone. (Come within 6%)
What is 95%?
This percent of teens say they would open a Roth IRA or investment account if they knew how. (Come within 14% and you get it)
What is 65%?