Banking
A deposit account designed to hold money you don't plan to spend immediately. hint: it can accumulate interest.
Savings Account
At what age are you legally required to get off of your parents health insurance?
Age 26
What is considered a good credit score.
Anything above 650.
True
A returnable sum payable when something is rented, to cover any possible loss or damage is what?
Security Deposit
True or False: All banks offer the same interest rates. The interest rates are set at a federal level.
False
True or False: Health insurance is offered for free to all students attending college.
False.
A credit card for use with an account that must be paid when a statement is issued, you can not roll over a balance.
Charge Card
Name three things that should be included in your budget.
Examples of correct answers: Rent/Mortgage, Groceries, Daycare, Gas, Cellphone Bill, Electric Bill, Credit Card, Vehicle payment, etc.
True or False: Many realtors require an additional amount of money to have a pet.
True
What type of account has a debit card attached to it?
Checking Account
What is employer sponsored health insurance?
a health policy selected and purchased by your employer and offered to eligible employees and their dependents.
What is debt?
Money that is owed or due.
What does it mean to “spend within your means?”
Spending within your means is, simply put, working with what you've got and only spending the amount of money you can afford.
contract by which one party conveys land, property, services, etc. to another for a specified time, usually in return for a periodic payment.
Lease
True or False: There is a minimum balance you must keep in your savings account at all times.
True. The minimum amount varies from bank to bank.
Protects your personal property in a rented apartment, condo or home from unexpected circumstances such as theft, a fire or sewer backup damage
Renters Insurance
What is the "minimum balance due" on a credit card?
the lowest amount your bank will accept as payment toward your credit card's balance each month.
If the income exceeds expenses, what can they do with this extra money?
What is a landlord?
a person who rents land, a building, or an apartment to a tenant.
a type of savings account offered by banks and credit unions. You generally agree to keep your money in this account without taking a withdrawal for a specified length of time.
Certificate Deposit (CD)
This type of insurance is required to have in the State of Maine.
Car Insurance
Paying the full balance of your remaining debt and not carrying over a minimum balance is called what?
Paying in full
The money you may have available after taxes and deductions are taken out of your paycheck is called what?
Net Income
True or False: All leases are for a total of one year.
False