Financial Literacy Jargon

The amount of money you have in a bank account:

• Cash

• Balance

• Deposits

• Pay Check

A purchase card that pays for a transaction by deducting the cost directly from your bank account

• Gift Card

• Credit Card

• Interest

• Debit Card

This government agency insures your bank accounts up to $250,000

• Federal Deposit Insurance Corporation (FDIC)

• Internal Revenue Service (IRS)

• H & R Block

• Tax Collectors Office

Not having enough money in a checking account to pay the check (or debit card or other transaction)

• Credit

• Debit

• Insufficient Funds

• Balance

The act of putting money in the banl or the sum of the money put into a bank at one time.

• CD

• Interest

• Balance

• Deposit

Interest paid on the principal plus earned interest

• Bonus

• Compound Interest

• Fees

• Revenue

A charge to the customer by the bank for a service such as writing a check or using an ATM machine

• Fee

• Interest

• Direct Deposit

• Bonus

72 divided by the interest rate will tell you how many years it will take your investment to double.

• Credit Union

• Insufficient Funds

• Rule 72

• Joint Account

When your paycheck, transfer payment or refund are automatically deposited into your checking or savings account.

• Fees

• Transaction

• Withdrawal

• Direct Deposit

Writing a check for more money than you have.

• Overdraft

• Deposit

• Withdrawal

• Transaction