lending
The percentage you pay when you borrow money.
interest rate
What is the role of the FDIC and NCUSIF?
To protect the funds in a bank or credit union
The money BEFORE taxes, and payroll deductions is known as your ________ salary.
gross
A slip of paper that is filled out to allow a bank to take money from a checking account to pay for a purchase
a check
An entity (the place) where people buy and sell shares of companies, which represent ownership in those companies.
the stock market
The entity that lends money is called the ______.
lender
Which financial institution is a non profit organization?
Credit Union
The money you earn AFTER payroll deductions in known as your ______ salary.
net salary
Spend an amount greater than the balance of a bank account is an ________
over draught
over draft
over draw
The MOST important action a person can take if they want to have investments and create more wealth in their future.
JUST do it! Start putting money in an growth account now.
Put money in an investment plan every month
Using a credit card for a cash advance is not a good idea because _________
credit cards charge a high interest rate.
Banks are a FOR PROFIT institution so their goal is to provide services to their customers AND _______ for their share holders.
make money
The money that your earn each pay period is known as ______.
income
(or net salary or salary)
An account at a bank that allows a person to deposit or withdraw money and write checks to pay for goods and services.
checking account
Which types of stocks or funds have the MOST risk?
Small cap funds
small companies
start-up companies
The loan you use to buy a house is called ________
a mortgage
Big banks are more likely to have:
a. higher fees but better online services
b. lower fees and worse online services
c. better international services and lower fees
a. higher fees but better online services
The total amount of money in a bank account at any given time is your __________.
balance
Money placed into a checking or savings account at a bank. Money you put into the account is called a ________.
deposit
A stock market index tracking the stock performance of 500 leading companies listed on stock exchanges
S&P 500
Short-term, high- cost loans, generally for $500 or less, that is typically due on your next payday are offered by __________. (Almost a Bank is an example)
Payday lender
Simple and Chime are examples of __________
online banks
A yearly federal tax on a person's earnings is known as ______.
(Federal) income tax
A financial entity that has "members" instead of customers. This type of institution usually serves a specific group of people like the military, teachers, or city workers.
Credit Union
A long-term investment plan offered by employers. You may invest using pre-tax dollars.
401K or 403B