Savings Account
what is a savings account
An account where you save up your money
What is a checking account
allows you to deposit money that you can then draw against to pay bills or make purchases
What is a credit card
a line of credit that can be used to make purchases, balance transfers and/or cash advances and requiring that you pay back the loan amount in the future
How do you earn money
you work
What are columns
a collection of cells alligned vertically in a table
What is interest
the price you pay to borrow money or the return earned on an investment
What are overdrafts
when you don't have enough money in your account to cover a transaction, but the bank pays the transaction anyway
What is a debit card
a payment card that deducts money directly from your checking account
How can you invest money
stocks or crypto currency
What is a row
when the boxes go side to side
How do savings accounts work
When you open up a savings account, you're committing to paying into that account
What are the fees
many banks charge monthly maintenance fees for checking accounts
What is a invoice
bill or tab is a commercial document issued by a seller to a buyer relating to a sale transaction and indicating the products, quantities, and agreed-upon prices for products or services the seller had provided the buyer
how do you stay out of debt
Build an emergency fund
What is a cell
An individual little box
What is minimum balance
Some banks require you to keep a certain amount of money in your checking or savings account
How long will deposits be held
Sometimes a hold can be put on certain deposits for a set number of business days
What is an APR
The Annual Percentage Rate
How do you save money
By not wasting money on things you don't need, or get a savings account
What is a spreadsheet
a file that exists of cells in rows and columns and can help arrange, calculate and sort data
What is insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury
What is return deposits
a check that a consumer deposits into their checking account that is returned to the consumer because the check could not be processed against the check originator's account
Why do people use debit cards
They take money out of your checking account immediately
Why is earning money important
to pay for all the things that make your life possible
What is a table
an arrangement of information or data, typically in rows and columns