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4. when the price of goods or services decreases.
5. degree a type of degree that normally takes four years of full time study, also known as an undergraduate degree. You can earn a Bachelor of Science or Bachelor of Arts degree.
7. deposit when money is automatically transferred into your account electronically.
8. percentage rate interest rate charged by a credit card company on any outstanding credit card balance.
9. pay a system that allows you to pay bills, like your cell phone bill, automatically from your checking account.
11. cost the next best alternative that was given up by making a certain decision.
13. insurance a type of insurance that covers the cost of medical expenses.Expected family contribution a term used in the college financial aid process to determine an applicant’s eligibility for need-based student aid, abbreviation EFC.
14. of Deposit a type of savings vehicle in which you put your money away for a certain amount of time, called a term, to allow your principal to earn interest. Also known as a CD, this savings vehicle traditionally has higher interest rates than a savings account and you must keep the money in the CD for the entire term or you will pay a penalty.

1. the people that are financially protected under a life insurance policy.
2. card a payment type that allows you to make purchases using money directly from your checking account.
3. insurance a type of insurance that provides financial security for a person (called a beneficiary) when someone close to them passes away.
6. taking out more money than what is in an account.
8. degree a type of degree that typically takes two years of full time study after high school and is dedicated training toward a specific career or skill.
10. a fixed fee you pay for specific medical services.
12. rate the percentage of interest you either make or pay on a principal.