Savings and Checking Account Flashcardizz

Front

What should you buy only?

Back

Only the things you need.

Front

What account allows you to deposit money at a bank for safekeeping?

Back

Saving Account.

Front

What action removes money from an account?

Back

Withdrawal.

Front

What is Alexia's plan for spending and saving her money called?

Back

Budget.

Front

What is the cost of using someone else's or a bank's money?

Back

Interest.

Front

What is a Checking Account used for?

Back

To manage daily transactions and expenses.

Front

What is a Deposit?

Back

Adding money to a bank account.

Front

What is the purpose of a Budget?

Back

To plan and track income and expenses.

Front

What does Interest refer to in banking?

Back

The amount charged for borrowing money or earned on savings.

Front

What is the difference between a Saving Account and a Checking Account?

Back

A Saving Account is for saving money with interest, while a Checking Account is for daily transactions.