Financial Literacy Vocabulary

Front

Bank/Financial Institutions

Back

A company or business that focuses on financial transactions such as loans, deposits, withdrawals, and investments

Front

Deposit

Back

Adding money to a financial account such as a checking account or a savings account

Front

The amount of money held in a financial account is

Back

the balance

Front

Taking money from a financial account is

Back

a withdrawal

Front

An exchange of money through deposits, withdrawals, and transfers is

Back

a transaction

Front

What is a fee?

Back

Money paid for services

Front

What is it called when there is not enough money in a checking account to pay for withdrawals (banks charge fees for NSF)?

Back

Insufficient Funds

Front

What is a debit card?

Back

Plastic payment card for purchase that is automatically deducted from a financial account

Front

What is a credit card?

Back

Plastic payment card for purchases. They have a credit limit and interest rates.

Front

How long does negative information stay on your credit?

Back

7 years