Banking
This type of account is connected to your debit card
Checking Account
This stock market index represents 500 of the largest companies listed on stock exchanges in the United States
S&P 500
A record of how you've managed loans and payments over time
Credit report
This type of car insurance covers you if you cause injuries or property damage for someone else
Liability Coverage
The form submitted by students to determine their eligibility for financial aid
FAFSA
A monthly fee that some banks charge to keep your account open
Maintenance fee
This investment vehicle automatically adjusts your investments based on a planned retirement year
Target Date Fund
The amount borrowed by someone for a loan
Principal
If you want a lower deductible and higher coverage limit, you will pay a higher monthly _______
Premium
Type of Tax System in the US (In which the more you make, the more you pay)
Progressive Tax System
This federal insurance program protects the money you deposit in member banks up to $250,000 per depositor, per bank
FDIC
This strategy involves spreading investments across different assets to reduce risk
Diversification
An initial payment made when buying something expensive, such as a car or house
Down Payment
Used to apply for jobs, this document outlines your skills and experience
Resume
Employees receive this form each January that summarizes their earnings and taxes for the previous year
W-2
The 50/30/20 rule divides your budget to spend 50% on _______, 30% on wants, and 20% on savings
Needs
Some jobs offer this valuable retirement plan as a benefit
401k
This payment method can help you build credit and requires a cash deposit
Secured credit card
This strategy for debt repayment starts with the highest interest-rate debts
Avalanche / high-rate method
Fill this form out when you start a new job to determine how much your employer withholds in taxes
W-4
Your total earnings BEFORE taxes or deductions are taken out
Gross Pay
The practice of analyzing different options when buying something
Comparison Shopping
The lowest amount you can pay on your monthly credit card bill to remain in good standing
Minimum payment
Insurance companies use this strategy to afford large payouts by collecting premiums from a large group
Risk Pooling
This date is the typical deadline for Americans to file their taxes
April 15