BANKING BASICS
Allows you to deposit or withdraw money and view balances using a machine.
ATM
A popular rule of thumb that allocates income to necessities, saving, and flexible spending.
50-20-30 Rule
This account earns interest on a lump-sum deposit left for a set time.
CD
A check for which the bank guarantees payment and for which they charge a fee.
Certified Check
A person who uses most or all of their monthly income to cover expenses.
Living Paycheck to Paycheck
This type of account lets you save for healthcare expenses using pre-tax dollars.
HSA
A savings plan where you regularly deposit a set amount until you reach a goal.
Savings club
An account similar to a CD but with no time limits and check-writing privileges.
Money Market Savings Account
This check is drawn by the bank on its own funds and does not require a checking account.
Cashiers Check
A check that is replaceable if lost or stolen and does not require a bank account
Travelers Check
The rate at which the price of goods rises over time.
Inflation
This investment provides insurance and savings, lasting 10 or 15 years.
Annuity
This long-term investment provides a way to invest in stocks and bonds, but is not government-insured.
Mutual fund
You write a future date on a check when you do this.
Postdate
An order to pay a specific amount to a party, bought at a post office or other agency.
Money Order
You get this notification if your checking account balance drops below a specific amount.
Low Balance Alert
The method of putting money into savings before paying your monthly bills.
Pay Yourself First
The rate of yearly earnings from an account, also known as the interest rate or rate of return.
Annual percentage yield (APY)
This digital payment allows you to transfer funds from your bank account to someone else's.
Person-to-Person Payment
A number required to use an ATM card.
PIN
The amount of money a bank requires you to keep in an account to avoid a fee.
Minimum Balance
A certificate of debt issued by the federal government that is a safe way to save.
U.S. savings bond
A consumer banking technology that allows you to schedule and make payments over the internet
Online Bill Pay
A card loaded with a specific cash amount, but not linked to a bank or credit union account.
Prepaid Debit Card
A mobile tool that lets you deposit checks using your phone.
Mobile Deposit