Vocabulary
Adding or putting money into an account.
Deposit
A sum of money that is expected to be paid back with interest
Loan
A card issued by a bank, business, etc., allowing the holder to purchase goods or services that must be paid at a later date.
Credit card
What is the meaning of value?
Value is what a good or service is worth
Name 2 “pros” and 2 “cons” of possessing a credit card.
Pros- get what you need, build credit history
Cons- pay fees/ finance charges, get into debt
Taking money out of an account.
Withdrawal
a number assigned to a person that indicates to lenders their capacity to repay a loan.
Credit score
all the money and property owned by a particular person
Estate
The money he earned from a jot or business is called:
Income
Name 4 forms of currency or money
Coins
Dollars
Checks
Card
PayPal, Cash App etc
A plan for how to save and spend money.
Budget
Name 2 things that can affect your credit score
a) number of open accounts
b) late payment history
c) no credit history
I withdraw money more frequently out of this account
Checking Account
An individual’s income before taxes are paid is called
Gross Income
Resting place for money
Bank account
Extra money that you either earn or owe. (Hint: %)
Interest
Compensation for specified loss, damage, illness, or death in return for payment of a premium
Insurance
Why is it important to make a budget?
A budget helps plan your spending.
Assets minus liabilities
Net Worth
Ownership of percentage or share of a company
Stock
An I.O.U. that you pay later.
Credit
A specified amount of money that the insured must pay before an insurance company will pay a claim
A "Deductible"
a bank account that pays you a higher interest rate in return for locking your money away for a certain period of time.
"CD" or Certificate of Deposit
Which 2 things a landlord can legally ask you about in a rental application?
a) your employment history
b) your credit history
c) your references
Something no one can live without
Money