Unit 3 Money Management Vocab

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Across
  1. 2. A check that has been written but that has not cleared the bank.
  2. 3. Used at an ATM machine to perform banking services such as withdrawals and deposits; cannot be used for purchases.
  3. 4. An arrangement to receive cash, goods, or services now and pay for them in the future.
  4. 7. A sum of money given to an individual with the intent that it is to be repaid at some future date along with any agreed upon interest.
  5. 8. A nonprofit financial institution owned by its members; offers various financial services including accounts and loans; regulated by the National Credit Union Association (NCUA).
  6. 9. Allows cardholder to transfer funds electronically and immediately from his or her checking account, as if the cardholder were writing a check to pay for a purchase.
  7. 10. A check that a bank returns because it is not payable due to insufficient funds (NSF check); sometimes called a “rubber check.”
  8. 12. A financial account into which people deposit money and from which they withdraw money by writing checks, using ATMs, or using a debit card.
  9. 13. The amount paid for the use of borrowed money.
  10. 16. This is determined before you are given the option to buy or get credit. Character, Capacity, and Capital.
  11. 17. Assists with the costs of professional education; usually issued by the government; has a lower interest rate than regular loans; repayment is deferred until after graduation.
  12. 19. Your ability to earn enough income to repay.
  13. 21. A loan with interest that would cover insufficient funds in a checking account.
  14. 22. Established by your conduct and living habits.
  15. 24. An entity (bank, credit union, business, finance company, or individual) to which money is owed.
Down
  1. 1. In a credit arrangement, the lowest amount that a borrower must pay toward the credit balance each month in order to avoid a penalty.
  2. 4. A number, generally between 300 and 800, that reflects the credit history shown in a borrower’s credit report. This score is considered predictive of the borrower’s future credit performance.
  3. 5. A deposit at a financial institution that pays interest; money cannot be withdrawn in check writing.
  4. 6. A period of time allowed for payment of money owed; after this period of time has elapsed, interest may be charged.
  5. 10. A financial institution that provides various products and services to its customers (checking and savings accounts, loans and currency exchange). Insured by the FDIC.
  6. 11. The maximum amount of money that will be extended to a person by a financial institution or credit-card issuer.
  7. 14. A small, specially coded plastic card issued by a bank, business, etc., authorizing the cardholder to purchase goods or services on credit.
  8. 15. The entire amount of money a person owes to lenders.
  9. 16. Company that collects information about your credit history and sells it to lenders. Equifax, Trans Union, Experian
  10. 18. What you own; includes savings, investments, and property.
  11. 20. Annual Percentage Rate; the percentage of the principal of a loan to be paid as interest in one year.
  12. 23. A record that lists all past and present debts and the timeliness of their repayment; it documents an individual’s credit history.