| A | B |
|---|
| advantage of a money market account | receive a dividend on it monthly or yearly |
| IRA account penalizes for | withdraw money before the age of 59 1/2 |
| examples of retirement plans for self-employed | Keogh plan and SEP |
| can cause a person to either not be able to take out a loan or have to pay a very high interest rate on a loan if they do receive one | bad credit score |
| the agency that produces credit reports and helps lenders decide whether they are going to lend money to an individual/business | credit bureau |
| typically what a teenager would open up as their first checking account | regular checking account |
| Signing a check is also called | endorsing |
| Best method of paying daily expenses | cash/debit card |
| helps a person compare the costs of credit charged by different lenders | APR |
| A retirement plan funded by an employer or union | defined-benefit plan |
| advantage of this type of investment is that the longer you invest your money in it, the higher the interest rate will be | CD |
| Savings accounts offered by banks that require a high minimum balance | money market accounts |
| type of pension plan, your employer contributes a set amount to a plan each year and tyou receive whatever amount is in the fund at the time you retire | defined-contribution plan |
| In this retirement plan the money you invest in your fund is often times matched by your employer up to a certain amount | 401k |
| type of card typically comes with a pin number | debit card |
| transfer of money from one bank account to another by electronic means | electronic funds tranfer |
| fee based on the amount of money you owe and the interest charged on the credit | finance charge |
| money you put into your account | deposit |
| sum of money that is paid for the use of another's money | interest |
| money you take from your account | withdrawal |
| the amount of money in your account | balance |
| bank account designed to hold funds for a short period of time | checking account |
| Account setup to hold funds for a long period of time but which only earns minimal interest | savings account |
| written document that authorizes the transfer of money from a bank account to a person or business | check |
| as asset someone borrowing money must offer to ensure they will pay back the lender | collateral |
| the maximum amount you can charge against your account | credit limit |
| an amount of money usually a percentage of the total payment, paid at the time of purchase | down payment |
| electronic transfer of payment from a company to an employee's bank account | direct deposit |
| regular payments made toward a lump sum of money | installments |
