Elementary Finance Vocabulary - Banzai

Debit Card

• A card you can use to pay with money directly from your checking account.

• A card that allows you to borrow money up to a certain limit.

• A card used for online shopping that is linked to a credit account.

• A card that earns rewards points for every purchase made.

Savings Account

• A type of investment that carries high risk

• A safe place to store your money (at a bank); it earns a small percentage of interest

• A loan provided by the bank to individuals

• A checking account with no fees

Competition

• More choices and better prices

• Higher prices and fewer options

• Limited choices and increased costs

• No impact on market prices

Business Expense

• Necessary cost for personal use

• Important expense for job

• Optional expense for leisure

• Minor expense for office supplies

Bill

• an amount of money owed for goods supplied or services rendered

• a type of financial statement

• a document for tax purposes

• a form of currency

Budget

• Plan for spending money

• A type of investment

• A financial report

• A savings account

Savings Account

• A type of investment that carries high risk

• A safe place to store your money (at a bank); it earns a small percentage of interest

• A loan provided by the bank to individuals

• A checking account with no fees

Interest

• Charge for borrowing money

• A type of investment

• A form of savings

• A government tax

Transfer

• Movement of money from one account directly to another

• A type of bank loan

• A method of investing in stocks

• A process of withdrawing cash from an ATM

Check

• A piece of paper that you fill out that allows you to buy things with money directly from your checking account

• A digital currency used for online transactions

• A type of bank account that earns interest

• A form of identification required for cash transactions