Savings Test Review

A popular savings rule of thumb in which 50% of your income goes towards needs, 20% goes towards saving and debt repayment, and 30% goes towards wants.

• Savings

• Goal

• 50-20-30 Rule

• Basic Savings Account

Your account number - the number that corresponds with your account

• FDIC

• Account ID

• Wealth

• Net Income

The US Administration insuring deposits in CREDIT UNIONS against failure

• National Credit Union Association

• Federal Deposit Insurance Corporation

• Principal

• Health Savings Account

The portion of current income not spent on consumption

• Assets

• Wealth

• Savings

• Goal

An automatic electronic deposit of net pay to an employee's designated bank account

• Direct Deposit

• Online Bill Pay

• Inflation

• Pay Yourself First

The end result of something person intends to acquire, achieve, do, reach, or accomplish

• Rule of 72

• Goal

• Return

• Savings

The profit or income generated by savings or investing

• Net Income

• Return

• Net Worth

• Wealth

A savings certificate with a fixed interest rate and maturity date, holding the saver's money until it fully matures

• Certificate of Deposit

• Rule of 72

• Account ID

• Money Market Savings Account

An account that typically pays higher interest, requires a higher minimum balance, and may allow checking

• Basic Savings Account

• Online Savings Account

• Money Market Savings Account

• Health Savings Account

The amount of an individual's take-home pay after taxes and other deductions have been taken out

• Interest

• Net Worth

• Assets

• Net Income