Banking/Spending
Building you go to, to deposit/withdraw money. Place where you go to ask questions about financial matters.
What is a bank
An account that can be used to set aside money for future goals or unexpected expenses?
What is a savings account
Owing someone
What is Debt
The benefits offered and paid in part by employers
What is Employee Benefits
Examples of this type of expense include mortgage/rent, insurance, utilities, and vehicle registration.
What are fixed expenses?
A type of account that allows you pay your bills and use your debit card.
What is a Checking Account
Income available after needs are paid for.
What is Discretionary income
Postponing thought and action until options are limited
What is procrastination
Examples of this type of expense include cable, phone plans, Netflix, and vacations.
What are flexible/optional expenses?
Those nifty machines that give you money when you put in your card and your pin
What are ATM machines
A card people carry that allows them to purchase things now, but pay for them at a later time.
what is a credit card
Wages and Salaries/Allowances
Investment Income
Self-employment
Inheritance
What is source of income
A loan from a creditor to help you finance the purchase of a home.
What is a mortgage
A piece of paper that is a written order instructing your bank to pay a specific amount of money to a specific person or place.
What is a Check?
An asset that a lender accepts as security for a loan.
What is collateral
The ability to earn money in exchange for work. How much you earn depends on the value of your skills in the marketplace.
Earning power
An individual’s income before taxes are paid is called
What is gross income.
A type of card that is linked to your checking account and you can use at retailers and to pay bills.
What is a Debit Card
An individual’s income after taxes are paid is called
Net income
Who should you ensure that you pay when you receive a paycheck?
Yourself
The platform which allows people to conduct financial transactions via their phone or computer; without having to physically go to a bank.
What is online, (internet, or cyber) banking, etc
The 3-digit score that relates to how likely you are to repay debt.
what is a credit score
A financial plan that estimates the income and expenditures for a specific set of time.
what is a budget
Employee of the bank who services the financial needs of a client.
what is a banker