Banking Basics
This is a safe place to put your money that is not your home
Credit Union or Bank
Waiting 24 hours before buying something online to decide if it’s really needed is an example of this
Impulse Buying
This is the paper and coin money you use to buy things.
Cash
This card takes money directly from your checking account when you buy something.
Debit Card
This type of account is used for everyday spending and usually comes with a debit card.
Checking
A good habit is to set aside money from your paycheck or allowance before buying anything else.
An account that gives you interest, or money back
Savings
You should never share this secret number that lets people access your bank account
PIN number
Money that you deposit into your savings account gives you this every usually every month
Interest
Saving a little bit regularly over time to reach a goal is called this.
Savings Plan
This word means the money you earn from a job or other source.
This card lets you borrow money from a bank to make purchases, which you pay back later.
Credit Card
This term describes the amount of money left in your account after all deposits and withdrawals are made.
Account Balance
Using a chart, app, or notebook to see how close you are to your savings goal is called doing this.
Tracking Spending
This word means a plan for how you will spend and save your money.
Budget
If you spend more money than you have on a credit card, you might have to pay this extra charge
Interest
This number, found on the bottom of your checks, identifies your specific bank and is used to process electronic transactions.
Routing Number
You plan to put some money in your savings account every month without having to do it yourself. This is called
Automated Savings
Insurance companies that protect your institutions and your money in your accounts
FDIC or NCUA
This protects you if someone steals your credit or debit card information and makes unauthorized purchases.
Fraud Protection