Financial Literacy

4. The total amount of money an individual has earned before taxes are taken out
8. when the overall price level increases due to rising production costs.
9. The rate at which a borrower pays interest for borrowing an item or money; or the percentage rate earned on a given investment.
11. A card used to make purchases or withdraw money from a checking account.
12. ______Interest. Based only on the original amount deposited into the account.
13. a general increase in prices and fall in the purchasing value of money.
15. Money or assets borrowed and paid back with interest over time.
16. An asset or amount of money provided as security for repayment of loan
17. Federal Deposit Insurance Corporation; A body that regulates most banks in the United States and insures most private bank deposits.
18. The amount of money an individual earns once taxes and other items are deducted from the gross pay.
20. A bank account where you can deposit or withdraw money using a debit card or checks.

1. A number representing a person’s credit worthiness, based on past credit and payment history.
2. _______Interest. Compounding means that whenever interest is calculated, it is based not only on the original amount in the account but also on any interest that has accumulated
3. a spending plan that outlines your income, expenses and other financial goals like savings and debt paydown.
5. An account where money is kept for future use.
6. An agreement by which a borrower receives something of value now and agrees to pay back the lender at a later date.
7. Money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.
10. occurs when the total demand for goods and services in an economy outpaces the supply, leading to a rise in overall prices.
14. Automatic Teller Machine where you can deposit money and withdraw cash using a debit card.
16. A card issued by a bank or other business for purchases using borrowed funds to be paid back later.
19. Fees incurred when a customer withdraws more money from a bank account than what is available in the account.