Banking Vocabulary
What is for everyday transactions, such as paying bills and making purchases
Checking Account
What are contributions often tax-deductible, meaning you pay no taxes on the money you put in, but you pay taxes when you withdraw it during retirement?
Traditional IRA
What is an account offered by banks and credit unions where individuals can store money securely while earning a small amount of interest?
Saving Account
What are personal loans, car loans, and student loans which are borrowed funds that must be repaid in interest?
Loans
What allows you to withdraw cash, check your balance, and deposit money at automated teller machines?
ATM Services
What is secure storage for valuable items and important documents?
Safe Deposit Boxes
What are contributions made with after-tax money, so withdrawals during retirement are tax-free
Roth IRA
What is a CD type of savings account where you agree to deposit money for a fixed period, usually ranging from a few months to several years?
Certificate of Deposit
What allows you to manage your account , pay bills and transfer money from your computer or phone?
Online and Mobile Banking
What does ATM stands for?
Automated Teller Machines
What is linked to your checking account for easy access to your money when making purchases?
Debit Card
What is offered by an employer, allow employee to save for retirement by contributing a portion of their paycheck?
401(k) Accounts
What is an account that combines features of both a saving and checking account? It often offers higher interest rates than a standard saving account but it also comes with limited check-writing or debit card usage
Money Market Account
What are long-term loans specifically for buying a home
Mortagages
When was Harvest Hands founded
2007
What allow you to borrow money for purchases, to be paid back later with interest if not paid in full each month?
Credit Cards
What are investment account managed by automated systems, using algorithms to build and manage a portfolio based on your financial goals?
Robo-Advisory Account
What account are designed to help families save for education expenses?
529 College saving Plans
What is a service that covers transactions if you spend more than you have in your account, often for a fee?
Overdraft Protection
What source material do we use during this time? What the name of the company
Flint Global
What are services like wire transfers or peer to peer payments (e.g., Zelle) to send money to others?
What are options for growing your money, like stocks, bonds, and retirement account?
Investment services
What are designed to help individuals with high-deductible health plans save for medical expenses. Contributions are tax deductible, and withdrawals used for qualified healthcare expenses are tax free.
HSA Health Saving Accounts
What gives guidance on budgeting, saving, investing and managing debt
Financial Counseling and Planning
What movie qouted this "You take the blue pill – the story ends, you wake up in your bed and believe whatever you want to believe. You take the red pill – you stay in Wonderland, and I show you how deep the rabbit hole goes"?
The Matrix