Financial Literacy Vocabulary

What kind of interest is it when you only earn money on the initial principal investment?

If U invest $1,000 and get 5.5% interest, and you earn $55 every year, it is ________interest.

What is the money collected by the federal government to provide goods and services for people?

What is the tax you put away for when you get older, and to help older people now?

An expense you have that is a different amount every time you pay it is called a _____ expense.

What is the term for when you put money into your bank account?

What do you call the tax taken out of paychecks?

When you buy things without taking time to think about the cost is called __________ buying.

What is the term for when you take money out of your bank account?

What is it if U get interest the first year, then earn interest ON the interest and principal?

What is the term for the money you earn from a bank for letting them borrow your money.

Which is NOT one of the steps to take to reduce telemarketing fraud?

An expense you have that is the same amount every time you pay it is called a ________ expense.

What kind of interest is it when you get money on the principal AND the interest you've earned?

What is the term for the amount of money you earn in a year at your job?

What is a plan for keeping track of expenses and income you have?

What is it called when someone pretends to be you in order to steal from you?

What's the term for the initial money you put into an investment account, before any interest?

What is money collected by the Federal Government (U.S.) used to provide goods and services?

What are the two most common kinds of bank accounts most people have?

What is the name of the government agency that oversees collection of income taxes?

What kind of tax is collected when you purchase an item at the store? (6% in Maryland)

When someone gets money as a gift from someone who has died, it is called an _______________.

All the money you have earned to use for goods and services is called your __________.

Which of the following is not a savings tool?

What is money collected by the state government to provide goods and services for the people?

Where is the safest place to keep your money?