NGPF Savings

Front

Putting money into a savings account before paying expenses.

Back

Pay yourself first

Front

Which is true about an online savings account? Options: Is not FDIC insured, No physical bank to do business at, No advantages over traditional savings accounts

Back

No physical bank to do business at

Front

What is interest?

Back

An amount of $ an institution pays you for the use of your $

Front

Interest is: a charge for lending money to a bank, The money the bank charges for borrowing money, the amount added into your savings when opening a bank account

Back

The money the bank charges for borrowing money

Front

How does the 50-20-30 rule distribute your income?

Back

50% needs, 20% savings, 30% wants

Front

Interest earned on both the principle amount and any interest already earned.

Back

Compound Interest

Front

A percentage paid to a lender for the use of borrowed money

Back

Interest Rate

Front

Money set aside for unanticipated expenses or loss of income

Back

Emergency Fund

Front

Amount that is earned as the benefit of depositing money into a savings, money market, or investment account.

Back

Interest

Front

The phrase "pay yourself first" means to

Back

put at least 10% of your income in a savings account before spending any money.