What is the possession of a body of financial knowledge, a set of basic skills, and the ability to apply knowledge and skills to making informed, responsible financial choice?
100
a strategy for using money to reach important goals and to advance a person’s financial security
What is a savings plan?
100
an organization that provides services related to money
What is a financial institution?
100
the purchasing a financial product or valuable item with the goal of increasing wealth over time in spite of possible loss
What is investing?
100
the time between birth and death
What is a life span?
200
need
What is the necessities a person must have to survive?
200
emergency fund
What is the amount of money that can easily accessed in the case of an unexpected cause?
200
charter
A bank can not operate without a what?
200
investment portfolio
A collection of the investments a person has made is called what?
200
any form of money received
What is income?
300
want
What is the things that a person desires but can live without?
300
specific, measurable, achievable, realistic, and time related
What does SMART goal mean?
300
mutual savings bank, internet bank, commercial bank, community bank
What are the four types of banks?
300
degree of volatility, rate of return, risk, liquidity
What are the four factors that investments are characterized by?
300
a plan for the use of money over time based on goals, expenses, and expected income
What is a budget?
400
consumer
What is an individual who purchases goods and services for his or her own use called?
400
help consumers compare savings products and make informed decisions
What is the purpose of the Truth in Savings Act?
400
a combination savings and checking account
What is an interest-bearing checking account?
400
appreciation
An increase in the value of an investment is what?
400
liquidity
What is the ease with which an asset can be converted into cash without losing value?
500
consumer credit
What is the credit granted to individual consumers by a retail business?
500
savings
What type of account is a CD?
500
bank reconciliation
What is the process of comparing the check register with the bank statement?
500
securities exchange
A secondary market where securities are bought and sold through stockbrokers?
500
beginning, expanding, developing, launching, and aging