This is another name for cash in the United States.
What is a green back?
100
This is the government agency that collects taxes.
What is the Internal Revenue Service? (IRS)
100
This kind of expense stays basically the same from month to month (for example, a rent payment).
What is a fixed expense?
100
This card provides access to your checking account and can be used to make purchases.
What is a debit card?
100
This is when the price of goods and services rises over time.
What is inflation?
200
This is the amount of a paycheck after the deductions are taken out.
Another name for it is "take home pay."
What is net pay?
200
This kind of tax is assessed on your earnings or wages. It goes to federal and state governments.
What is income tax?
200
Money to spend on entertainment, extra clothes, hobbies, or donations - not required for living.
What is a discretionary expense?
200
This is interest earned on both the principal amount and the interest you have already earned.
What is compound interest?
200
This is a measure of all of the goods and services produced in a nation in a given year.
What is the Gross Domestic Product? (GDP)
300
This measures how easily an asset flows. Cash flows easily, but real estate does not.
What is liquidity?
300
You complete this form on the first day of a job to select how much tax will be taken out of your paycheck.
What is a W4?
300
This statement shows your assets minus your liabilities.
What is a net worth statement?
300
These offer the same services as banks, but are operated as non-profits. They are usually local and joining is limited to members of specific groups.
What are credit unions?
300
This is a set of statistical data that shows trends in the economy.
What is an economic indicator?
400
This is written as a promise to pay money from your bank account.
What is a check?
400
This is the federal form you complete by April 15th each year to figure out if you paid too much or too little income tax.
What is a form 1040?
400
This is a retirement savings plan sponsored by an employer. It lets workers save and invest part of their paycheck before taxes are taken out.
What is a 401K?
400
This is when you make your bank records (your checkbook) match what the bank thinks you have (bank statement) each month.
What is reconciling your bank account?
400
This economic indicator measures the rate of inflation by monitoring the average change in price of several hundred goods and services in the country.
What is the Consumer Price Index? (CPI)
500
This is a printed order for payment for a specified sum, issued by a bank or post office. It cannot bounce like a regular check.
What is a money order? (or cashier's check)
500
This kind of tax is assessed at a higher rate for those earning more income.
What is progressive income tax? (or graduated income tax)
500
This is an individual retirement account that allows a person to set aside after-tax income each year. It is more flexible than a traditional IRA, because money can be taken out early for certain reasons (buying first home or college expenses).
What is a Roth IRA?
500
This is a certificate issued by a bank to a person depositing money for a certain length of time. You usually need a large amount of money and will be charged if you take the money out early.
What is a certificate of deposit? (CD)
500
This kind of interest is great for savers but not for borrowers. It tends to slow new investments because borrowing is more expensive.