Financial Literacy Vocabulary

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Monthly Fee

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A fee that someone charges you per month, often associated with checking accounts.

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Transfer

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Money you move from one account to another.

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Savings Account

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A bank account that earns interest on the money deposited.

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ATM

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Automated Teller Machine - A place to withdraw cash.

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Check Register

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A place where you write down your balance, withdrawals, and deposits for an account.

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Credit Card

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A card that allows you to borrow money from a bank to make purchases.

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Loan

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Money that is borrowed and must be paid back with interest.

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Debt

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Money that is owed to someone else.

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Interest

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The cost of borrowing money, usually expressed as a percentage.

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Deposit

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Money placed into a bank account.