Savvy Shopping
The act of comparing prices, reviews, and features to get the best deal.
Comparison shopping.
This payment method allows you to pay at a checkout terminal using your smartphone instead of a physical card.
Mobile wallet.
This monthly document lists all the purchases, withdrawals, and deposits you made in the previous month.
Checking account statement
This document serves as proof of purchase and includes the date, time, and total amount owed
A receipt
If a tote bag costs $27.99 and you have a $3 coupon, this is the final price.
$24.99
A store's tactic, like "Buy One, Get One Free," used to build loyalty and increase spending
Promotion
Apps like Venmo or Cash App are examples of this type of payment, often used to repay a friend for a shared meal.
Peer-to-Peer (P2P) payment app.
The term for taking money out of your bank account.
Withdrawal
This is a common percentage-based or dollar-amount reduction taken off the price of an item.
A discount or coupon
A $40 pair of jeans is on sale for 25% off. This is the final price before tax.
$30.00
A percentage-based reduction in the price of an item.
Discount
While both are pre-loaded with money, this card is usually for a specific store, whereas a prepaid card can be used at many different locations.
A gift card is for a specific store; a prepaid card can be used at many stores.
This is the term for adding money to your bank account.
A deposit
A monthly report from the bank showing all your transactions and your current balance
Checking Account Statement
Ruth’s receipt shows a $11.70 sub-total, $1.17 in tax, and a $1.63 tip. This is the total amount she paid.
$14.50
A physical or digital "ticket" used to get a specific dollar amount off an item.
Coupon
To open a checking account, you generally need these two things:
a form of ID and proof of address.
Some banks charge this specific fee if you make a purchase but do not have enough funds in your account to cover it
An overdraft fee.
A mandatory payment to the government added to the cost of many goods and services.
Tax
You are comparing two $27.99 bags: one has a $3 coupon, and the other has a 30% discount. This one is the better deal.
The 30% discount bag
Someone might choose NOT to comparison shop for an item for this reason
they are in a hurry, it's a low-cost item, or they are loyal to one brand
What is the difference between a debit card and a credit card
A debit card takes money directly from your checking account; a credit card is a loan.
A machine used to withdraw cash from your checking account using a debit card.
ATM
A written order telling the bank to pay a specific amount of money from your account to another person or business.
Check
If you have $50 in your account and you withdraw $20 from an ATM, this is your new balance.
$30.00