Vocabulary
this is where people store money, make credits, and other money services
What is a bank?
What are the TWO parts of a check?
What is the signature, address, name, and account number?
True or False: The median is the middle number with sets of numbers (digits must be from least to greatest).
What is True?
One of the factors people use when choosing a bank.
What is location, and rates or fees?
This is what credit card companies charge for use their money.
What are finance charges?
when you need to owe someone money back that needs to be paid back
What is debt?
Who should know your ATM pin?
What is the owner?
True or False: When you are withdrawing something you are putting it back in your account.
What is False?
A request for your bank to pay another party from funds in your account.
What is a check?
The best way to reduce your credit card debt.
What is pay more than the payment required?
adding or putting money into an account
What is a deposit?
What is a checking account?
What is money kept for every day expenses?
True or False: You should always spend more money than you have.
What is False?
This happens when you write checks for more money than is in your account.
What is an overdraft?
When possible, it is better to buy a home rather then rent because purchasing real estate is considered an investment. As you pay off your mortgage you build this.
What is fair play?
a plan for how to save and spend money
What is a budget?
Why is it important to make a budget?
What is a budget helps you with your spending?
True or False: Interest is always a good thing.
What is False?
This should be performed monthly to ensure proper record keeping and help protect against identify theft.
What is a bank conciliation?
Preferably, the only types of purchases that should be financed are these.
What are large purchases (such as a house or car)?
the extra money that you either earn or owe
What is a interest?
Why is it important to be careful when using credit cards?
What is a bad impact on your credit?
True or False: Variable Expenses change from month to month.
What is True?
this is money in your account
What is a balance?
Calculate this by taking the total amount of money and assets you have and subtracting the total amount of money you owe.
What is net worth or debt?