Checking
A bank account that debit cards pull from directly.
What is a checking account?
This is the financial habit of putting money aside for the future. (Daily Double)
What is saving?
A number that creditors use to determine interest rates for a particular person.
What is a credit score?
This is the percent of your budget that should go towards your needs. (Daily Double)
What is 50%?
A low risk investment that allows investors to lend money to a company or government. (Daily Double)
What are bonds?
The largest source of fees for banks.
This is the number you can divide by your interest rate to estimate how long it will take for your investment to double in value.
What is 72?
A type of interest rate can change durring the durration of a loan.
What is a Variable interest rate?
This is the percent of your budget that should go towards savings and investments.
What is 20%?
A retirement savings plan that allows employees to contribute a portion of their paycheck to an account.
What is a 401k?
This is the average withdrawl fee of out-of-network ATMs.
What is $3.00?
This is the minimum amount of money suggested to be put aside for emergencies. (Daily Double)
What is $500?
A type of debt that's tied to a specific asset that can be used as collateral and be repossessed if the borrower doesn't make payments.
What is Secured debt?
This is the percent of your budget that should go towards your wants.
What is 30%?
A type of investment where you own a portion of a company.
What are stocks?
A method of payment in which your employer deposits your check directly into your account.
What is direct deposit?
These two things are what make compound interest powerful.
What is time and interest rate?
An initial payment made in cash, usually twords a home or car.
What is a down payment?
Housing, Food, Transportation, and Energy are considered to fall under this category or spending.
What is a need?
A type of investment that tracks a market index.
What is an index fund?
These three numbers are found at the bottom of all checks.
What are the routing number, account number, and check number?
A savings account put aside for a single purpose. (Daily Double)
What is a sinking fund?
An open line of credit that can be used for any purchases as long as your under the credit limit.
What is revolving credit?
Concerts, eating out, fashion, and hobbies are considered to fall under this category or spending.
What is a want?
A type of interest where interest is accumulated based on the sun of the principle and interest that has already been calculated.
What is compound interest?