Banking

Front

Savings account

Back

1. allows you to deposit your money, safe with the bank

Front

Checking account

Back

1. a secure way to store your cash that you can later withdraw or spend directly 

Front

CD

Back

1. an account that allows you to save money typically at a fixed interest rate for a fixed amount of time 

Front

interest rate

Back

1. the proportion of a loan that is charged as interest to the borrower, typically expressed as an annual percentage of the loan outstanding.  

Front

Compound interest

Back

1. the interest you earn on interest. This can be illustrated by using basic math: if you have $100 and it earns 5% interest each year, you'll have $105 at the end of the first year. At the end of the second year, you'll have $110.25. 

Front

Emergency fund

Back

1. a cash reserve that's specifically set aside for unplanned expenses or financial emergencies 

Front

Investing

Back

1. to commit (money) in order to earn a financial return

Front

Debt

Back

1. something, typically money, that is owed or due. 

Front

Principle

Back

1. the original sum of money that's borrowed in a loan or placed into an investment 

Front

Credit

Back

1.  the ability of the consumer to acquire goods or services prior to payment with the faith that the payment will be made in the future