Financial Literacy Vocab

An account number is YOUR special bank number

Money taken out of a bank account

A routing number is specific to a bank

Percentage charged on a loan or earned on savings

It is stupid to save money

Identity Theft is when someone steals your personal information to commit fraud

Savings set aside for unexpected expenses

You should always pay your bills

FAFSA is what you fill out if you want to buy a car

Money added to a bank account

Money owed to others

A bank account that earns interest on money saved

You learned something in this class this semester

Money borrowed that must be paid back with interest

Basic necessities vs. non-essential items

A fixed regular payment for employment, typically annually

You have a checking account

Total earnings before taxes and deductions

A number that shows how trustworthy you are with credit

Money earned from work, investments, or other sources

Payment for work, usually calculated hourly

If you don't pay your rent you can still stay in your space

The smallest amount you can pay on a credit card bill

Everyone should have a budget

Earnings after taxes and other deductions; also called "take-home pay."

A bank account used for daily transactions