EVERY FRIDAY WHEN YOU GO TO THE BANK YOUR PAYCHECK IS THERE.
What is Direct Deposit?
100
EVERY YEAR THE LENDER CAN CHANGE YOUR INTEREST RATE.
WHAT IS A VARIABLE RATE?
100
USE THIS TO GET MONEY FROM YOUR CHECKING ACCOUNT AT 2:00 AM.
WHAT IS AN ATM?
100
Saving $1 a day grows to $374 at the end of the first year.
What is Daily Compounding?
$1 a day grows to $4,735 after 10 years and $25,415 after 30 years.
$5 a day grows to $23,677 after 10 years and $127,077 after 30 years
100
TAKE CONTROL OF YOUR FINANCIAL SITUATION EVERY MONTH BY KNOWING WHAT YOUR INCOME AND EXPENSES ARE.
WHAT IS A BUDGET?
200
A NONPROFIT FINANCIAL INSTITUTION OWNED BY PEOPLE WHO HAVE A COMMON BOND.
WHAT IS A CREDIT UNION?
200
REGULAR MONTHLY PAYMENTS FOR A FIXED PERIOD OF TIME.
WHAT IS AN INSTALLMENT LOAN
200
YOUR SIGNATURE ON THE BACK OF A CHECK.
WHAT IS AN ENDORSEMENT?
200
THE AMOUNT OF INTEREST EARNED ON A YEARLY BASIS, EXPRESSED AS A PERCENTAGE.
WHAT IS THE ANNUAL PERCENTAGE YIELD (APY)?
200
WAGES, PUBLIC ASSISTANCE, INTEREST, DIVIDENDS, SOCIAL SECURITY.
WHAT IS INCOME?
300
A COMPANY CALLS YOU REGULARLY WHEN YOU ARE OVERLOADED WITH DEBT AND CANNOT MAKE YOUR PAYMENTS
WHAT IS A COLLECTION AGENCY?
300
COMBINING SEVERAL OVERDUE ACCOUNTS INTO ONE.
WHAT IS BILL CONSOLIDATION?
300
YOUR CHECK BOUNCES FOR “NON-SUFFICIENT FUNDS”
WHAT IS AN OVERDRAFT?
300
A POOL OF FUNDS FROM MANY PEOPLE INVESTED BY A MANAGER.
WHAT IS A MUTUAL FUND?
300
GROSS INCOME LESS FEDERAL TAX, STATE TAX, FICA AND MEDICARE.
WHAT IS NET INCOME (OR TAKE HOME PAY)?
400
A SUM OF MONEY APPROVED FOR TEMPORARY USE
WHAT IS A LOAN?
400
YOU ARE ALLOWED 15 DAYS BEFORE YOU ARE ASSESSED A LATE CHARGE.
WHAT IS A GRACE PERIOD?
400
The amount of the transaction is immediately deducted from your checking account at the time of purchase.
What is a debit card.
400
A CONTRACT TO LEAVE YOUR MONEY ON DEPOSIT FOR A FIXED PERIOD OF TIME.
WHAT IS A CERTIFICATE OF DEPOSIT?
400
ALTHOUGH IT’S EXPENSIVE, YOU USUALLY GET YOUR TAX REFUND IN 3 DAYS.
WHAT IS A REFUND ANTICIPATION LOAN (RAL)?
500
THE ELECTRONIC TRANSFER OF MONEY FROM ONE BANK TO ANOTHER.
WHAT IS A WIRE TRANSFER?
500
THE VALUE OF REAL ESTATE LESS ALL INDEBTEDNESS.
WHAT IS EQUITY?
500
AN INTEREST BEARING ACCOUNT ON WHICH YOU CAN ONLY MAKE 6 WITHDRAWALS EACH MONTH, 3 OF WHICH CAN BE BY CHECK.
WHAT IS A MONEY MARKET ACCOUNT?
500
SOME ASSETS CAN BE TURNED INTO CASH VERY QUICKLY, OTHERS ARE MORE COMPLEX AND TAKE LONGER.
WHAT IS LIQUIDITY?
500
YOU DECIDE TO PAY YOUR RENT FIRST, ELECTRIC BILL SECOND, PAY EXTRA ON YOUR CREDIT CARD NEXT, AND FINALLY GO TO DINNER AND A MOVIE.