Financial Literacy Flashcards

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Gross Balance

Back

The amount of money in an account before any deductions

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Net Balance - netpay

Back

The amount of money in an account after any deductions

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Credit Card

Back

A card that allows the holder to buy goods and services by taking out a bank loan

Front

Debit Card

Back

A card that allows customers to electronically and immediately withdraw funds from their accounts, either in cash or to purchase goods or services

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Check

Back

A written order to a bank to pay a certain amount of money from a checking account to another person or business

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Financial Institution

Back

A business that provides money-related services, such as a bank or credit union

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Savings Account

Back

An account that usually earns interest and is often used to hold money that is not needed right away

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Checking Account

Back

A bank account used to pay bills and access funds using checks and debit cards

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Gift Card

Back

A card that is purchased for a certain amount and then used like cash at a specific store

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Prepaid Card

Back

A card that allows you to spend only the amount you have pre-deposited into an account