Savings Accounts | Expenses | Checking Accounts | Income & Taxes | Miscellaneous |
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What is interest?
The money the banks pays you for keeping money in an account.
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What is a budget?
A tool can you use to manage your monthly expenses.
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What is a checking account?
The type of account that can be used to pay your bills.
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What is net pay?
The amount you take home in pay after taxes and other deductions are removed.
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What is a debit card?
This can be used to take money out of your account at an ATM or make purchases at a store.
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What is a statement savings account?
The type of account that allows you to set aside money and you receive monthly statements.
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What are fixed expenses?
Costs that stay the same every month.
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What is the written amount?
This is the legal amount of a check.
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What is gross pay?
The total amount of pay you make.
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What is a withdrawal?
When you take money out of an account.
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What is a passbook savings account?
The type of account you can only withdraw money from when you bring the book to the bank.
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What are variable expenses?
Costs that change every month.
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What is a check register?
Where you keep track of your checking account transactions (debits and credits).
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What is excise tax?
The tax you pay on your car.
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What is the grace period?
The time when you can make deposits or withdrawals from a Certificate of Deposit without paying a penalty.
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What is a certificate of deposit?
A savings account you are not allowed to make withdrawals from until it's in the grace period.
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What is a variable expense?
A credit card bill is this kind of expense.
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What is two times?
The number of times a check must be signed before it can be cashed or deposited.
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What is health insurance?
This is taken out of your paycheck to pay for your current health care.
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What is credit score?
The score given to each person that determines how likely they are to repay a loan.
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What is compound interest?
When you receive interest on both the principal and interest already earned.
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What is a fixed expense?
Rent is this kind of expense.
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What is an overdraft (bounced check)?
When you write a check for more money than what you have in your account.
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What is medicare?
This is taken out of your paycheck to go towards health care in retirement.
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What is a stale-dated check?
When the date of a check is past 6 months old.
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