Credit
This three-digit number represents your creditworthiness to lenders
What is a credit score?
This is a basic account that allows you to write checks and use a debit card.
What is a checking account?
This is the term for money coming in, such as paychecks or gifts.
What is income?
This is the name for owning part of a company through the stock market.
What is a stock?
This is the form you fill out when you get a new job to determine how much tax to withhold.
What is a W-4 form?
This type of credit card interest is charged when the balance isn’t paid in full each month.
What is APR (Annual Percentage Rate)?
This banking feature "protects" you if you accidentally spend more than you have.
What is overdraft protection?
This is a regularly occurring expense that stays the same each month.
What is a fixed expense?
This type of investment collects a group of stocks or bonds into one fund.
What is a mutual fund?
This is the total amount you earn before any deductions.
What is gross income?
This report lists your credit history, including loans and payment habits.
What is a credit report?
This type of account earns interest and is ideal for saving money over time.
What is a savings account?
The 50/30/20 rule suggests spending 50% of your income on needs, 30% on wants, and 20% on this.
What is savings and debt repayment?
This type of investment involves lending money to a company or government in exchange for interest payments.
What is a bond?
This is the tax form you receive in January showing your annual earnings and taxes withheld.
What is a W-2?
This is one difference between a secured and unsecured credit card or loan.
What is a secured credit card/loan requires collateral (like a deposit or asset), while an unsecured one does not?
This number is used to verify your identity when using online banking or ATMs.
What is a PIN (Personal Identification Number)?
This term describes when your expenses are greater than your income in a given month.
What is a deficit?
This concept describes how spreading investments across different asset types reduces risk.
What is diversification?
These three common paycheck withholdings help fund government programs and services.
What are federal income tax, Social Security, and Medicare?
When comparing credit card offers, these are three key features you should evaluate.
What are the interest rate (APR), fees (like annual or late fees), and introductory offers (like 0% APR or cash back)?
These are two advantages of using a credit union instead of a traditional bank.
What are lower fees and better interest rates (or member-owned and nonprofit)?
This strategy involves researching prices and features across different stores or websites before buying.
What is comparison shopping?
This is one major risk and one major benefit of investing in the stock market.
What are losing money due to market volatility (risk) and building wealth through compound growth over time (benefit)?
This tax form is typically used by self-employed individuals or gig workers to report income.
What is a 1099?