General
What is a bank?
What is a financial institution people use to store their money.
What is payee?
The person a check is written to.
What is the difference between in person banking and online banking?
In person banking you have to go to the bank. Online banking can be done anywhere you have an internet connection.
Dawn is saving up for a down payment on a pre-owned car, the cost will roughly be $2,000. Which kind of account would be best for her to open?
What is a savings account?
What are we learning in Personal Finance?
What is banking and budgeting.
Name 2 ways a person can use a bank.
What is a checking account and savings account.
What is a signature for on a check?
To allow the bank to cash the check and give the money to the payee.
What is the difference between a checking and savings account?
A checking account is used for spending money you put in the account. A savings account is used to keep money until it is needed or a goal has been reached for something being saved for.
Jay is at Wal-Mart, he is offered a discount if he signs up for what type of card that will charge interest?
What is a credit card.
What is a service that the bank offers to protect a person who accidentally writes a check for more than they have in their account?
What is overdraft protection.
What is a check?
a slip of paper that orders a bank to pay a specific amount of money from a person's account to the person in who the check is written to.
What is withdrawl or debit?
Taking money from an account.
What is the difference between a deposit and withdrawal?
A deposit is when you put money in an account. A withdrawal is when you take money out.
Ruth has been injured and can not leave her house. What type of banking would be best for her?
What is online banking?
How most people receive their paycheck?
What is direct deposit.
What is a debit card?
A card that can be used as cash. Money is taken directly from bank account.
What is a credit on a bank register?
depositing (adding) money to a bank account.
What is the difference between a written check and direct deposit?
A written check has to be signed and taken to the bank. Direct deposits go directly into a checking or savings account.
Max is given a paper check from his employer. What should he do with it to make sure he can pay his bills?
What is deposit the check?
A plan to organize how you spend your money
What is a budget?
What is FDIC?
Federal Deposit Insurance Corporation. It protects money deposited into banks.
What is a bank register?
The bank register displays transaction information specific to the bank account, such as current balance, credits, debits, ending balance, and detailed transaction information.
What is the difference between a debit card and a credit card?
A debit card comes directly out of a bank account and you can not spend more than you have. A credit card is used when you don't have the money to buy something and it charges interest.
Roxie lost her debit card what should she do?
What are you learning about in this class?
How to be responsible with your money.