Financial Literacy Review

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What is interest?

Back

A percentage charged when you borrow money or an amount earned for saving money in a savings account.

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How long does a negative credit action remain on a credit report?

Back

7 years.

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What does deposit mean?

Back

To put money into an account.

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What is cash?

Back

The physical form of money, such as coins or paper money.

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What is balance in a bank account?

Back

The amount of money available in your account.

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What is a budget?

Back

A plan that outlines expected income and expenses over a certain period.

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What is net pay?

Back

The amount of money you take home after taxes and deductions.

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What is a pay stub?

Back

A document that shows your earnings and deductions for a specific pay period.

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What does it mean to transfer money?

Back

To move money from one account to another.

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What is income?

Back

Money received, especially on a regular basis, for work or through investments.