Banking
Deduction from this account when debit card is swiped.
What is a checking account?
Form filled out on the first days of a job
What is the W4?
The range of the number given to show credit worthiness.
What is 300 to 850?
For some savings accounts and stock investments your interest earns interest.
What is compound interest?
Budget recommended by most financial advisors. First created by Elizabeth Warren & her daughter.
What is 50/30/20?
Fee for spending over your current bank balance.
What is an overdraft fee?
Form given to you at the end of the year to show earnings and withholdings.
What is the W2?
Default protection on mortgage and auto loans.
What is (collateral) secured credit?
Shares sold of public companies.
What are stocks?
This percentage recommended for monthly savings
What is 20%?
The percentage interest typically earned on a savings account.
What is 1 to 3%?
Form filled by tax filers to determine amounts owed or refunds?
What is the 1040?
Two factors that affect your credit score the most.
What are payment history and amounts owed?
Investing retirement fund that changes with your time horizon.
What is target date fund?
Your take home pay used to create a budget.
What is net pay?
A convenient way to deposit your checks electronically and check your account balance
What is mobile banking?
The amount everyone gets to deduct from their income before tax is taken out.
What is the standard deduction?
The loan amount without interest.
What is the principal?
Loans given to the government or public companies.
What are bonds?
What is a budget deficit?
The insurance for depositors at banks up to $250k.
What is the FDIC?
Taxes, social security, health insurance
What are deductions?
When monthly loan payments are constant and the amount of interest owed decreased over time as the principal amount being paid off increases.
What is amortization?
Historical annual increase of 2% that lowers purchasing power.
What is inflation?
Length of time for savings when compared to investing.
What is short term?