Insurance
This is the name of the money you pay every month to have an insurance policy.
Premium
An investment that is a share of ownership in a corporation.
Stock
A for-profit corporation owned by shareholders that takes deposits and makes loans and offers checking accounts.
Bank
This includes all the records of loans you have taken out and paid back over your life.
Credit history
Expenses that do not change from month to month (like rent, mortgage, or car payment).
Fixed expenses
This means "to put money in" to your account.
Deposit
This is the money you pay out of pocket when you need to use insurance.
Deductible
An investment that is a loan to a corporation or a government.
Bond
A non-profit membership organization that offers checking accounts, savings accounts, and loans.
Credit union
This number is used by lenders to determine how much they charge you for interest on loans.
Credit score
Expenses that change from month to month (like food, entertainment, or vacation).
Variable expenses
This means "to take money out" of your account.
Withdraw
This type of insurance supports your loved ones with a predetermined dollar amount that they receive upon your death.
Life Insurance
This is an investment that pools money from many people and uses the money to buy many stocks and/or bonds.
Mutual fund
The interest rate that you use to compare different loans with different characteristics.
Annual Percentage Rate (APR)
This type of loan typically charges drastically higher interest rates on loans than banks or credit unions.
Pay Day Loan
These taxes are taken out of your paycheck by the federal government and used to provide income to elderly people.
Social Security
This is a nine digit personalized and private number that you can use to open bank accounts.
Social Security Number
This type of auto insurance covers the cost to repair your vehicle when you crash.
Collision
This is a type of tax deferred retirement account that you control. You don't pay taxes on the income from it until after you retire.
Individual Retirement Account (IRA)
A type of interest that grows not only on the principal but also on all accumulated interest over time.
Compound Interest
This type of loan has no interest if paid back after a month. If do not to pay it back in a month, you pay compound interest compounded monthly.
Credit card loan
These taxes are taken out of your paycheck and used to pay for elderly people's health care.
Medicare
T/F - All credit cards are bad and people should never get them.
False
This type of insurance pays your bills (food, rent, gas, etc.) when you are hurt and you can't work.
Disability Insurance
It will take this many years to double an investment of $10,000 with a 6% APR.
12 years
This is a card that you can use at an ATM and is connected to your checking and/or savings account.
Debit or ATM Card
Property that is used by a lender to secure a loan (the bank takes the property if you don't repay the loan).
Collateral
Your wages AFTER taxes and deductions.
Net wages
You received this fee on your checking account for spending more money that you had available.