Financial Literacy Vocabulary

Define Bank/Financial Institutions

• Money added to a financial account through an electronic transaction

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

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

• A withdrawal from a checking account or withdrawal using a debit or ATM card

What is a deposit?

• The amount of money held in a financial account

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

• A withdrawal from a checking account or withdrawal using a debit or ATM card

• Money paid for services

Tags

CCSS.6.NS.C.5

What is a direct deposit?

• Money added to a financial account through an electronic transaction

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

• a document to record fees, deposits, withdrawals, and other financial transactions

• When there is not enough money in a checking account to pay for withdrawals (banks charge fees for NSF)

The amount of money held in a financial account is

• a withdrawal

• a debit card

• the balance

• a fee

Taking money from a financial account is

• the balance

• check register

• a deposit

• a withdrawal

Tags

CCSS.7.NS.A.1A

What is a check register?

• Money paid for services

• a document to record fees, deposits, withdrawals, and other financial transactions

• A withdrawal from a checking account or withdrawal using a debit or ATM card

• When there is not enough money in a checking account to pay for withdrawals (banks charge fees for NSF)

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

• a transaction

• a fee

• the balance

• Insufficient Funds

Define Debit.

• When there is not enough money in a checking account to pay for withdrawals (banks charge fees for NSF)

• a document to record fees, deposits, withdrawals, and other financial transactions

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

• A withdrawal from a checking account or withdrawal using a debit or ATM card

Tags

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

What is a fee?

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

• Money paid for services

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

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

Tags

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

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

• Credit Card

• Transaction

• Insufficient Funds

• Direct Deposit