Let's Keep the Money
This term describes setting aside money for future use rather than spending it immediately.
What is a Savings?
This three-digit number helps lenders decide if you’re a good credit risk.
What is a credit score?
This term refers to the money you earn from working.
What is income?
This type of insurance protects you financially in case of a car accident.
What is Auto Insurance?
This type of investment represents ownership in a company.
What is a stock?
A plan that helps track income and expenses to ensure you don’t overspend.
What is a Budget?
The total amount of money borrowed, not including interest.
What is principal?
A fee charged by a lender for borrowing money.
What is interest?
The amount you pay out-of-pocket before insurance starts covering expenses.
What is a Deductible?
Bonds are an example of this type of investment where you loan money to a government or corporation.
What is fixed income?
The rule recommending you allocate 50% of income to needs, 30% to wants, and 20% to savings.
What is the 50/30/20 rule?
A high-interest loan with a short repayment period, often considered risky.
What is a payday loan?
The process of taking money out of a savings or checking account.
What is a withdrawal?
Insurance that provides financial support to your family after your death.
What is a Life Insurance?
This strategy involves spreading investments across different asset types to reduce risk.
What is Diversification?
This account type offers interest on deposits while limiting monthly withdrawals.
What is a Money Market Account?
A government-backed loan program designed to help students finance their education.
What is a Federal Student Loan?
This term refers to a market where financial instruments are traded for immediate delivery.
What is the Spot Market?
This insurance protects you from losses due to fire, theft, or natural disasters for your home.
What is homeowners Insurance?
The financial market that facilitates the buying and selling of bonds is known by this name.
What is the Debt Market?
A type of savings account that locks your money for a fixed period, often offering higher interest rates.
What is a certificate of Deposit or CD?
This is the term for the cost of borrowing money, expressed as an annual percentage rate.
What is APR?
The collective marketplace for trading raw materials, split into hard and soft commodities.
What is the commodities market?
Insurance that ensures income replacement if you are unable to work due to illness or injury.
What is disability insurance?
This type of investment is traded in the futures market and involves agreements to buy or sell at a future date.
What is Future contracts?