Banking Terms
Purpose of a checking account
Pay bills
a systematic error in thinking
Cognitive Bias
Two types of banking fees
Maintenance fees, atm withdrawl fees, and minimum balance fees
Mercanti-Anthony
Purpose of a Savings Account
Save!
FOMO
Fear of Missing Out
The term for not having a bank account
unbanked
Who is our new assistant principal
Dr. Abdullah
Two types of bank account
checking and savings
Loss Aversion
Worry that you will lose out
Percent that should go to savings in the "pay yourself first strategy."
20%
What does WIG stand for?
Wildly Important Goals
A CD
Certificate of Deposit
A commercial example of herd mentality
celebrity, etc.
What does FDIC stand for
Federal Deposit Insurance Corporation
Who was Antonia Pantoja
misc
Compound Interest
Interest on both the balance and previous interest
Three ways commercials exploit our cognitive biases
misc
Amount your bank account is insured up to
$250,000
What happened when Dr. M worked at Chuck E. Cheese?
He knocked over a kid in the Chuck E. costume.