The Basics
Dividing your income into categories and planing how much you'll spend on each
What is a budget
An account at the bank with the money you've already earned readily available for you
What is debit account
A document summarizing how you've used your credit card for a billing period (includes balance, due date, available credit and more...)
What is a credit card statement
A contract between a landlord and a tenant that states what the tenant will pay monthly for rent and for how long
What is a lease
Financial protection in the event of an unforeseen tragedy/hardship.
What is insurance.
The name of the document that comes with your paycheck and shows you what you were paid and how much was taken for taxes
What is a paystub
A pink ceramic swine shaped object that eats coins through an opening on its back.
What is a "piggy bank"?
When you go to the ATM and take money out of your account you are a making a...
What is withdrawal
A card that allows someone to make purchases that takes the money directly out of their checking account
What is debit card
When you've "maxed" out your credit card you have reached your...
What is limit?
The type of loan used for buying property
What is a mortgage
The amount of money paid regularly to an insurance company for a policy.
What is a premium.
The money withheld from your check that goes to the government and the state
What are taxes
The term for money you print on your own.
What is counterfeit?
Money that is owed or due
What is debt
A plastic card that allows the holder to borrow money to makes purchases
What is a credit card
When you pay your bill past the due date
What is late payment?
This protects your personal property in a rented apartment, condo or home from unexpected circumstances such as theft, a fire or sewer backup
What is renters insurance
The set amount you pay for before your insurance plan starts to pay.
What is a deductable
The deposit of funds electronically into a bank account rather than through a physical, paper check.
What is direct deposit
They put him on the dime after his death in 1946?
Who is Franklin D. Roosevelt (FDR)
A document that tells your bank to pay a specific amount of money from your account to the person/store/company whose name is written on it
What is a check
An account to pay for large purchases by borrowing money and paying it back over time (possibly with interest)
What is credit account
The money you are charged when you don't pay your credit card bill in full each month
What is interest
A sum of money paid by a new tenant to a landlord when they first sign the lease (The renter gets this back at the end of the lease if there are no damages to the apartment.)
What is a security deposit
The amount you pay out of your pocket when you visit a doctor.
What is a co-pay
The amount of money you make before taxes are taken out
What is gross pay
How many states are listed across the top of the Lincoln Memorial on the 5$ bill?
What is "50"?
The penalty charge for spending more than what was in your checking account
What is an overdraft fee
An acronym that stands for the annual (yearly) amount a credit card company charges on top of the actual cost of what you bought
What is APR (Annual Percentage Rate)
A number that shows a record of your credit history and financial behavior (usually between 300–850)
What is a credit score
The forced sale of property
What is foreclosure
If Bob goes to get car insurance the day he wrecked his car, he has committed...
What is insurance fraud?
The amount of money you take home after taxes
What is net pay
The most circulated bill in the United States (denomination)
What is the dollar bill?
An account that can be used to set aside money for future goals or unexpected expenses?
What is a savings account?
Established in 1998, this U.S company is operating one of the largest online payment systems in the world.
What is PayPal?
The least amount of money that you have to send to your credit card lender each month.
What is the minimum payment?
Expenses that do not fluctuate from month to month
What are "fixed expenses"?
Insurance paid to named beneficiaries when the insured person dies.
What is life insurance?
The term for when you are paid every two weeks
What is bi-weekly?
Suggested the design for the first penny
Who is Benjamin Franklin?
A type of account that allows you pay your bills and use your debit card.
What is a checking account?
Offer better consumer protections against fraud
What are credit cards?
The number of credit card offers, on average, that the American household receives each month.
What is six?
Type of insurance that covers the home you own as well as your possessions inside it in case of damage or loss.
What is homeowner's insurance?
Type of insurance that protects a policyholder in the case of a car accident. Most states require it by law.
What is auto insurance?
Any hours worked by an employee that exceed their normally scheduled working hours.
What is overtime?
The only Non-Presidents featured on American bills (two) currently in circulation
Who are Benjamin Franklin and Alexander Hamilton?
Those nifty machines that give you money when you put in your card and your pin
What is an ATM machine? (automated teller machine)
Also known as P2P payments or money transfer apps, like Venmo, PayPal and Cash App — allow users to send one another money from their mobile devices through a linked bank account or card.
What are peer-to-peer payment systems (or apps)?
One of the top 2 states in the US that carries the most credit card debt.
What is Alaska or Connecticut?
The services you pay for regularly, such as water, electricity and gas
What are utilities?
This important 9 digit number is one that should be kept confidential to avoid identity theft.
What is a social security number?
The term for someone who does work but does not receive payment for the work
What is a volunteer?
The largest bill ever printed and circulated among the public
What is the 10,000 bill?