Unit 6 | Financial Literacy Vocabulary

A retirement account offered through an employer, where an employee can contribute money from his or her paycheck before or after taxes

• Mutual Fund

• 401(k)

• Opportunity Cost

• Net Pay

Interest rate charged by a credit card company on any outstanding credit card balance

• Inflation

• Opportunity Cost

• Annual Percentage Rate

• Overdraft Fee

A system that allows you to pay bills, like your cell phone bill, automatically from your checking account

• Budget

• Direct Deposit

• Supply

• Auto Pay

A type of degree that typically takes two years of full-time study after high school and is dedicated training toward a specific career or skill

• Bachelor's Degree

• Doctoral Degree

• Associate's Degree

• Master's Degree

A type of degree that normally takes four years of full-time study, also known as an undergraduate degree

• Bachelor's Degree

• Associate's Degree

• Doctoral Degree

• Master's Degree

A plan for spending or saving money that is made up of income and expenses

• Salary

• Expenses

• Budget

• Income

A type of insurance that covers any damage you may cause to another person or their vehicle

• Emergency Savings

• Car Insurance

• Homeowner's Insurance

• Wage

A type of bank of account in which interest is not usually applied to the principal, but offers a safe place to store your money and allows you to make withdrawals using an ATM card, debit card or personal check

• Emergency Savings

• Savings Account

• Mutual Fund

• Checking Account

A payment type that does not automatically draw money from your checking account. It provides a short-term loan from the credit card company

• Credit Card

• Debit Card

• Deposit

• Tuition

A statement showing the total amount of money owed based on your credit card transactions

• Credit Limit

• Credit Score

• Credit Card

• Credit Card Bill