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Financial Literacy
vocabulary words
| Term | Definition |
|---|---|
| Bonus offer | Given by financial institutions to get you to do business with them. |
| Balance due | How much you owe on your credit card |
| Due date | when you have to pay your bill by |
| Late fee | Charge if you don't pay your bill on time |
| Intro APR | Temporary low interest rate (could be zero) |
| Penalty APR | Interest rate charged to you because you were late on your bill |
| Minimum payment due | Amount you HAVE to pay on your credit card bill |
| Credit Score | Number that represents your financial history |
| Savings Account | Account used for storing your money for future goals |
| Checking Account | Account used to pay bills and provides easy access to your money |
| Payer | Person writing the check |
| Payee | Person receiving the check |
| Check | Form of money that tells the bank who to pay and how much |
| Memo | Note to self for what the check was written for. |
| Overdraft | When you write a check for more amount than you have in your account. |
| ATM fee | A charge for using an ATM from another bank |
| Interest | Cost of borrowing money in the form of a loan from a bank |
| Savings APR | Interest rate you earn on your money in savings account |
Created by:
khalupka
Popular Family and Consumer sets