Invest in a banking account
This type of account is connected to your debit card
Checking account
The amount borrowed by someone for a loan
Principle
If you want a lower deductible and higher coverage limit, you will pay a higher monthly ______
Premium
The 50/30/20 rule divides your budget to spend 50% on _______, 30% on wants, and 20% on savings
Needs
A monthly fee that some banks charge to keep your account open
Maintenance fee
An initial payment made when buying something expensive, such as a car or house
Down payment
Insurance companies use this strategy to afford large payouts by collecting premiums from a large group
Risk pooling
Your total earnings BEFORE taxes or deductions are taken out
Gross pay
This investing strategy involves spreading investments across different assets to reduce risk
diversification
The lowest amount you can pay on your monthly credit card bill to remain in good standing
Minimum payment
The practice of analyzing different options when buying something
Comparison shopping
If your expenses are higher than your income, you have a budget ________
Deficit
This federal insurance program protects the money you deposit in member banks up to $250,000 per depositor, per bank
FDIC
A record of how you've managed loans and payments over time
Credit report
Design choices made to manipulate you, like adding a countdown timer or hiding the unsubscribe button
Dark patterns
Employees receive this form each January that summarizes their earnings and taxes for the previous year
W-2
Putting regular amounts of money into an investment account at specific time intervals
Dollar cost averaging
This strategy for debt repayment starts with the highest interest-rate debts
Avalanche/ high-rate method
This type of car insurance covers you if you cause injuries or property damage for someone else
Liability coverage
Fill this form out when you start a new job to determine how much your employer withholds in taxes
W-4