Savings Accounts
What is a savings account?
What is a basic type of financial product that allows you to deposit your money and typically earn a modest amount of interest
What do credit cards do?
What is credit cards offer you a line of credit that can be used to make purchases, balance transfers and/or cash advances and requiring that you pay back the loan amount in the future
What is a place that stores money for people to transfer to different other currency’s and when they actually need it.
What is gross monthly income?
What is the total amount of money received in a given month before any deductions, including taxes.
What is a Budget?
What is a budget is a spending plan based on income and expenses. In other words, it's an estimate of how much money you'll make and spend over a certain period of time, such as a month or year
Can you invest money inside a savings account?
What is yes, There are many ways to invest to earn money in return.
What do debit cards do?
What is debit cards take money out of your checking account immediately. Debit cards let you get cash quickly. You can use your debit card at an automated machine or your local bank.
Whats the most common financial institution?
What is banks
What is the percent of monthly Federal Income tax
What is 10%
What is the important parts of budgeting?
What is learn how to create a budget. And learning to not fall for impulse buying and the tactics sellers use to make you spend money you do not plan to.
True or false? Stocks and mutual funds are guaranteed investments.
What is false, investors can lose part or all of their money when they invest.
What are 3 debit card advantages.
•You can pay immediately •No annual fee (usually)
•Easy access to your money •Etc…
•no interest charges
•online statements
•if the card is reported missing if it’s stolen the person can’t use it
•you can withdraw cash at ATMS
What is a financial institution?
What is a financial institution is an establishment that completes and facilitates monetary transactions, such as loans, mortgages, and deposits. Financial institutions are a place where consumers can effectively manage earnings and develop financial footing
What is tax withholdings?
What is the money that an employer deducts from an employee's gross wages and pays directly to the government.
Name 5 benefits of budgeting.
What is
Pros and cons of a savings account.
What is savings account benefits include safety for your savings, interest earnings and easy access to your money. However, savings accounts may have drawbacks, such as variable interest rates, minimum balance requirements and fees
Name 3 credit card advantages
•You can buy now and pay later
•Paying for goods and services without needing money in hand.
•Available all the time
•Other things that are true
What is a credit union
What is a non profit cooperative offer for bank services and it’s owned by it’s members.
Purpose of withholding tax.
What is money to the government for military, community, or for other things needed to be done if there is a problem.
Does making a budget every month help you save money?
What is yes, budgeting how many what you can buy and how much money you can spend and how much money that is left over you can save.
4 benefits of saving money
What is
What is the amount of credit you get on a credit card when you first get a card
What is there isn't a set credit score that each person starts out with. Instead, if you don't have any credit history, you likely don't have a score at all
3 benefits of a financial institution
What is
Is tax withholdings good or bad?
What is depends on if you have too much money withheld from your paychecks, you end up giving an interest-free loan (and getting a tax refund). On the other hand, having too little withheld from your paychecks could mean an unexpected tax bill or even a penalty for underpayment.
What is a opportunity cost?
What is the best alternative given up when making a financial choice.