Saving Tools
The account used to save
What is a Savings Account?
money stored for use later
A way to access your checking account on paper
What is a check?
Set amount of money for spending
what is a budget
Something you can get from the bank to pay for something right away but will have to pay back later
What is a loan
Saving for the unexpected but not for savings.
What is an Emergency Savings account?
Automatically puts money into account
What is Direct Deposit?
One way to draw money from your checking account in cash
What is an ATM
Something that money is saved for
what is a goal?
Buying something off of impulse
What is impulse buying?
Less liquid than checking and savings accounts because these accounts have a minimum balance requirement and are limited to a certain amount of transactions a month.
What is a Money Market Deposit Account?
A way to electronically transfer money to someone
What is P2P?
When you spend more than what is in your checking account
What is an Overdraft?
the total overall income pay
What is gross pay?
living off of your paychecks and being able to save little to none
What is living from paycheck to paycheck?
What is Liquidity?
Price paid for using someone else's money and has a rate.
What is Interest?
This is a fee you can pay when you overdraft and still allows you to use your cards even after over drafting.
What is Over Draft Protection?
The money that is left over from the paycheck after all expenses and taxes are taken out
What is Net pay?
The demand of products making the value of it change.
What is inflation?
The owner of this account can be fined if accessed before the end of the time period and is the least liquid.
What is a Certificate of Deposit?
It can help track transactions in your account.
How does a notification help your account?
one of the most common checking fees
What is an ATM out of network fee?
Net income
What is take home pay?
affects how you spend your money
What is a lifestyle?