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Financial Literacy Vocabulary
Are You Financially Literate? Budgeting Basics Financial Institution
Terms in this set (26)
Annual Percentage Rate
The annual rate that is charged for borrowing
Certificate of Deposit
a certificate issued by a bank to a person depositing money for a specified length of time.
a written dated and signed paper that contains an unconditional order from the drawer that directs a bank to pay a definite sum of money to a payee.
a record of a consumer's ability to repay debts and demonstrated responsibility in repaying debts.
maximum amount a credit card company will allow someone to borrow on a single card
a nonprofit-making money cooperative whose members can borrow from pooled deposits at low interest rates.
An account created at a bank, brokerage firm or mutual fund company that is managed by an adult for a minor that is under the age of 18 to 21
A small written form that is sometimes used to deposit funds into your account.
The central bank of the United States
Individual Retirement Account
An investing tool used by individuals to earn and earmark funds for retirement savings.
an estimate of income and spending funds for a period of time.
the cost required for something
a cost that remains unchanged
a deficit in a bank account caused by drawing more money than is actually in the account.
costs on an irregular basis.
a business relationship between a bank, department store, stockbroker, etc., and a depositor, customer, or client permitting the latter certain banking or credit services
a company hired by lenders to recover funds that are past due or accounts that are in default.
the money lent or made available under a credit arrangement
a small, plastic card issued by a bank, business, etc., allowing the holder to purchase goods or services on credit.
a card issued by a bank allowing the holder to transfer money electronically to anther bank account when making a purchase.
The possession of knowledge and understanding of financial matters. Financial literacy is also the ability to understand how money works in the world
Occurs when an account cannot provide adequate funds to satisfy the demand of a payment
a person employed to deal with customers' transactions in a bank.
a bank account that earns interest
THIS SET IS OFTEN IN FOLDERS WITH...
FINANCIAL LITERACY-QUIZ 2
110FL ... Personal Financial Literacy - Chapter 2
DECA Financial Literacy Exam
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