Cha-Ching
(Credit and Debit)
(Credit and Debit)
This type of card deducts money directly from a consumer's checking account when it is used
What is a debit card?
This is the minimum percentage of money you should take from each of your paychecks to put into savings
What is 20%?
The date by which you must file your tax returns from the previous year
What is April 15?
This term is used when you legally declare you are unable to pay your bills
What is bankruptcy?
This issue often takes form through obsession, thrill seeking, and a habit of spending more than you can afford to lose
What is a gambling addiction?
This line on a check is used for an unofficial note and can help you remember what reason or item the money was spent on; it is useful when budgeting
What is a memos line?
This term is used to indicate a general increase in the prices of goods and services in an economy and can often lead to a reduction in purchasing power
What is inflation?
This tax is added onto the sale of certain goods and services by a governing body
What is sales tax?
This term is used to describe the additional price you must pay when repaying loans
What is interest?
This risky machine entices players by giving them small wins, however the longer you play the more likely you are to lose
This is a type of financial institution like a commercial bank that offers similar services, however, it is nonprofit
What is a credit union?
The lack of this organizational tool is one of the biggest reasons why Americans live paycheck to paycheck and go in debt
What is budgeting?
This is an expense subtracted from your income before a tax is collected and lowers the total amount of tax you must pay
What is a tax "deduction"?
Repaying a loan late will lead to this consequence
What are late fees/penalties?
This term is used to describe the fraudulent practice of sending emails claiming to be from reputable companies in order to scam an individual into revealing personal information
What is phishing?
This is the most important thing to do if you use a credit card
What is paying your bills on time?
This investment is a document that shows that you have deposited money into a bank for a certain period of time; this investment usually pays more interest than a savings account
What is a certificate of deposit?
This is the form your employer sends to you each January that reports your wages and withholdings; you use this form to help with filing your federal and state taxes
This type of bankruptcy (also known as a reorganization bankruptcy), gives you the chance to keep your assets if you complete a repayment plan
What is a "chapter 13" bankruptcy?
This term describes an advertisement that is disguised to look like part of an article; it is often distinguishable by a label that says 'sponsored' or 'promoted'
What is native advertising?
This is the maximum percentage of your credit card limit you should use in order to avoid going over
What is 80%?
This is a metric used to evaluate how an investment has preformed; it is a ratio between profit and what you originally invested
What is a return on investment? (ROI)
What is a "progressive" tax? ("Ability to Pay" tax is also acceptable)
This is someone who makes unplanned irrational purchases; these purchases often impede paying back loans and can lead to debt
Who is an impulse buyer?
This name is given to someone who transfers or moves illegally acquired money on behalf of someone else (hint: the second part of the name is an animal)
What is a money mule?