Check it Out
Method of purchase that pulls money directly from your Checking Account using a card.
The term for the original amount of money you borrowed.
What is the principle?
An account offering security and growth through interest as well as liquidity, a great place to put your emergency fund.
What is a savings account?
This is a more convenient form of banking than the traditional brick and mortar method.
What is online banking?
A class were you explore careers and learn basic financial skills.
What is CFM or Career and Financial Managment?
Spending more than you have in your Checking Account
What is an overdraft?
The term for the least you can pay each month on your credit card statement without incurring late fees.
What is minimum balance?
Pay yourself first with this method of saving out of your checking account.
What is a monthly transfer?
electronically moving money between accounts
What is an electronic transfer?
You should do this if you have $50 in your checking account and a $100 bill due tomorrow.
What is transfer from savings?
Reconciling transactions that are in your personal check register to the transactions that have cleared on your account.
What is balancing your checking account?
The report that indicates to lenders how trustworthy you are with credit extended to you.
What is your credit score?
The % of your income that you should be saving each month
What is 10%
A service offered by banks in which they will send money owed electronically to companies or people you select.
What is electronic bill pay?
The cost to borrow money for a year - use the words not just the letters
Annual Percentage Rate (APR)
What is a minimum balance?
two benefits offered by credit card companies to attract your business
What are points and cash back?
The first thing your should build up when saving.
What is an emergency fund?
An attempt to gain access to your online banking information through a deceptive email, website or phone call.
* use the first letters of the words in a random phrase
* make it long
* include numbers, special characters and even spaces
What are ways to make a strong password?
A method for accessing your cash from your checking account, there might be a fee each time you use this - use the words, not the letters.
What is an ATM (Automated Teller Machine)
The time between the end of your billing cycle and your payment due date.
What is the grace period?
Start early and grow! 401K, IRA, Social Security and Pension are all ways of saving for this.
It's as easy as endorsing (signing) and then taking a picture of a check with your bank app and the money is in your checking account!
What is mobile deposit?
A way to make your online banking more secure by requiring a password as well as a code sent to your email, phone number or authentication app.
What is two factor authentication?