Banking Basics
This type of bank account typically earns little to no interest.
What is a checking account?
This level of education requires four years of education at an accredited University.
What is a bachelor's degree?
This personal finance tool helps you plan and track your income and expenses.
What is a budget?
This type of card allows you to borrow money but may charge interest.
What is a credit card?
This is the reason you purchase insurance.
What is to avoid financial risk or burden?
This process helps you find errors and avoid overdrawing your account.
What is reconciling your bank statement?
This form is filled out at a new job to determine how much tax to withhold.
What is a W-4?
These are the types of expenses that change each month.
What are variable expenses?
This is the yearly cost of borrowing money on a credit card or loan.
What is APR (Annual Percentage Rate)?
This is the amount you pay out-of-pocket before insurance covers the rest.
What is a deductible?
This method of payment immediately withdraws money from your account.
What is a debit card?
This is the amount of pay you take home after deductions.
What is net pay?
This budgeting method uses labeled envelopes to control spending.
What is the envelope method?
This is one way to build and maintain a strong credit score.
What is managing debt wisely?
This investment involves pooling money into a variety of assets.
What is a mutual fund?
This tax form shows your earnings and taxes paid for the year.
What is a W-2?
This federal tax is used to fund retirement and disability benefits.
What is Social Security?
This is one reason someone might lease instead of buy a home.
What is planning to stay for a short time?
This is what happens when you only pay the minimum on a credit card.
What is paying more interest?
This type of federal aid is free money awarded based on need.
What is a federal grant?
This type of savings helps you prepare for unexpected expenses.
What is an emergency fund?
This paperwork is required to determine eligibility for federal student aid.
What is the FAFSA?
This is the amount of income left after all expenses are paid.
What is disposable income?
This is a major benefit of having a good credit score.
What is access to better loan offers?
Wearing a seatbelt and not texting while driving are examples of this.
What is risk management?