Saving Tools
The account used to save
What is a Savings Account?
money stored for use later and can be accessed whenever you want.
What is a checking account?
A way to spend money from your checking account without using an ATM, debit card, or cash.
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. Could be from an employer.
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?
True or False: You can link a debit card to a saving account.
What is false?
A way to electronically transfer money to someone
What is zelle, venmo, cashapp, paypal, or wire.
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?
T/F You can withdraw money from your savings accounts using an ATM?
What is true?
Price paid for using someone else's money and has a rate.
What is Interest?
A payment made on a schedule that is automatically pulled from your bank account.
What is auto-pay OR bill pay?
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 money you earn based on a percentage of the funds in your saving account.
What is interest?
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?