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Getting Started
Financial Literacy Getting Started
| Question | Answer |
|---|---|
| Your goal in developing a ____________ plan is to be able to pay all of your expenses each month and put money into a savings or investment ac count and having a good spending plan in place will help you achieve this goal. | spending |
| The first section of a spending plan is __________________. | Income |
| You can also put your name on the lists known as the _____ _____ _______ and Do Not Solicit lists, which will minimize, if not completely stop any credit card solicitations coming to your home. | Do Not Call |
| The best way to limit their access to your information is to ________ everything. | Shred |
| Do not ever provide information in an e-mail directly in the _______ of the e-mail or in an ____________ which contains your personal information. | body: attachment |
| When creating a password for your online accounts, use a combination of ________, upper and lowercase, and __________. | letters and numbers |
| It is recommended you carry one for purchases you make in __________ and have a separate card for _________ purchases. | person: online |
| Identity theft can ________ your ________. | ruin: credit |
| When you realize you have become a victim of identity theft, the ________ step you must take is to contact all _________ and credit card companies where you have an open account and tell them what has happened. | first; banks |
| A ____________ is goal is one you want to achieve in less than 12 months time. | short-term |
| An ____________ goal is one you want to achieve in more than 12 months, but less than 5 years. | intermediate-term |
| A long-term goal is one you want to achieve in more than five years and possibly up to _____ _____ _____ years. | 30 to 35 |
| When you choose a bank, you should three things in mind: | 1. convenience 2. service 3. cost |
| A _______________ __________ is one of the most widely recognized of the banking institutions because they have been so well known throughout the years. | commercial bank |
| _________________ __________ do not have physical locations you are able to walk into and do your banking. | Virtual Bank |
| Each time you use a debit card, the money is taken from your account almost __________________. | immediately |
| Banks make their money by charging _________ for the services they offer, by charging ____________ on loans that they make and by charging ____________ on investments they sell. | Fees; interest; commissions |
| Ask the customer service representative to explain the fees to you if you do not understand them and make sure there are no ____________ fees. | hidden |
| Bank statements are provided to give a customer a ____________ of what their account activity has been during a specific time period. | snapshot |
| It is important for you to keep your own ____________ so you have an ____________ idea of what is available for you to spend. | register; accurate |
| This ____________ of your account shows the opening balance, the total of deposits made during the month, the total of the withdrawals made during the month and the closing balance. | statement |
| The top two features of online and mobile banking are convenience and ____________. | security |
| A typical security system provided by a financial institution includes a firewall, data ____________, requirement for PINs, login security questions, requirement for ____________ and ongoing maintenance to their systems to protect against hackers. | encryption; passwords |
| Only access your account information from a ___________ computer location and always logout of your account when done. | secure |
| Also, if you are using a __________ __________ to access your mobile banking, or a computer to access online baking, do not leave them ______________, especially when you are logged in to online or mobile banking. | mobile device; unattended |
| Utilities | variable |
| movies | Discretionary |
| Mortgage | Fixed |
| New Television | Discretionary |
| Groceries | Variable |
| Interest Paid to you | Income |
| Car payment | Fixed |
| Mowed Neighbor's Lawn | Income |
| Gas | Variable |
| Car Insurance | Fixed |
| New Ipad | Discretionary |
| paycheck | Income |
Created by:
jschaer
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