Choosing to Save Vocabulary

A bank account used for a fixed period of time and allows restricted access to the funds

• Saving Account

• Checking Account

• Certificate of deposit

• Money Market Deposit Account

An account that allows quick access to funds for transactions

• Savings Account

• Checking Account

• Market Money Deposit Account

• Savings Tool

Business that provides financial service

• Depository Institution

  {Bank}

• Savings Tool

• Compound Interest

• Trade Off

An account at a bank that usually has minimum balance requirements and tiered interest rates

• Savings Tools

• Money Market Deposit Account

• Checking Account

• Emergency Savings

An account at a depository institution that is designed to hold money not spent on current consumption

• Savings Account

• Checking Account

• Savings Tool

• Money Market Deposit Account

Accounts offered by depository institutions whose main purpose is to help people manage their money

• Checking Account

• Emergency Savings

• Checking Account

• Savings Tool

The amount of interest earned depends on the account balance

• Money Market Deposit Account

• Compound Interest

• Interest Rate

• Tiered Interest Rate

Earning interest on interest

• Interest Rate

• Compound Interest

• Tiered Interest Rate

• Market Money Deposit Account

The purchase of goods and service

• Consumption

• emergency Savings

• Liquidity

• Time Value of Mney

When you complete a task yourself rather than paying someone else

• Do It Yourself

• Interest

• Pay Yourself First

• Opportunity Cost