Financial Institutions
This type of financial institution accepts deposits, offers checking and savings accounts, and provides loans to individuals and businesses.
What are retail banks?
This type of account lets you deposit money, withdraw funds, and write checks or use a debit card for everyday purchases.
This record provided by the bank lists all transactions for an account over a period of time.
What is an account statement?
Before investing, it's important to ___________ your finances to understand your income, expenses, debts, and savings.
What is review?
This is an ownership share in a company which can be bought for a set price.
What is stock?
This type of financial institution provides banking services but is owned by its members.
What is a credit union?
This account is designed for saving money over time and typically earns interest.
What is a savings account?
This card is linked directly to your bank account and lets you make purchases or withdraw cash.
What is a debit card?
This step involves setting financial ______ or deciding what you want your money to achieve.
What is goals?
These are used to pay for various purchases including education, home improvements, debt consolidation and other larger purchases.
What are personal loans?
These companies offer financial protection from losses due to accidents, theft, or disasters in exchange for premium payments.
What are insurance companies?
A savings tool that holds your money for a fixed period of time and pays a set interest rate until maturity.
What is a certificate of deposit?
This banking service lets you borrow money and pay it back over time, usually with interest.
What is a loan?
Learning about different types of investment options, like stocks, bonds, and mutual funds, is part of this step.
What is research?
This type of financial institution specializes in providing loans to individuals for purchasing homes or real estate.
What is a mortgage lender?
This organization regulates the money supply and interest rates in the United States.
What is the Federal Reserve?
This is used to purchase a home.
What is a mortgage?
This service allows you to electronically send money quickly to another person or institution, often across long distances.
What is a wire transfer?
Building a ______ involves combining different types of investments to reduce risk.
What is a portfolio?
This is an employer-provided retirement savings and investing plan.
What is a 401(k)?
This type of institution helps individuals and companies raise financial capital.
What is an investment bank?
A check issued by a bank that guarantees payment, often used for large transactions like buying a car.
What is a cashier's check?
A secure place inside a bank where customers can store valuable items like jewelry or important documents.
What is a safe deposit box?
This important step involves regularly checking your investments to see if they are helping you reach your goals.
What is monitoring?
These are documents bought with cash and exchanged as cash.
What is a money order?