Checking accounts (stats)
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10 Terms
1
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what do checking accounts do?
keep money safe
2
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What does the fdic do?
if you have less than 250,000 in your account, you get all your money back if the bank closes
3
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What are the pro’s to a checking account?
more options to pay (debit card, checks, digital transactions)
easier for others (direct deposit)
usually no transaction limits
easier to manage money
easier for others (direct deposit)
usually no transaction limits
easier to manage money
4
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What are the pro’s of a paper trail?
keep track of it and budgeting
5
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What is a credit union?
has a membership and tends to be a much better deal on interest rate
6
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Savings account
Pay interest and has transaction limits
7
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Money markets
Hybrid, high minimum balance, pay interest
8
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Certificates of deposit (CD)
accounts have higher interest rates and money is locked in
9
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Goals need…
budget, specific, attainable, schedule (time)
10
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Scam avoidance
passwords (strong and long), 2 factor authentication, and never open attachments
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Flashcards (22)