Key Words and Definitions For Money Management

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KEY WORDS AND DEFINITIONS FOR MONEY MANAGEMENT

The following are a list of key words and their definitions to use during the Card Sort Activity. Providers may elect
to only use some of these words and definitions, and may even add to these words and definitions.

A financial
A type of account to
Savings account Bank establishment that
help you save money
helps customers
manage their money

An amount of money
a lender is willing to
A type of account for loan another person
Checking account active or daily Credit based in trust and
spending with the expectation
it will be repaid with
interest

A document provided The entire amount of


by an employer that money a person owes
Paystub shows money earned, Debt to lenders
benefits and taxes
paid

The mechanism used


Money a person to give money to
Income earns or receives Loan someone with the
expectation that it is
to be repaid

A report of your
A state of having
financial history that
enough income or
includes information
Self-sufficiency assets to support Credit report
on credit accounts,
essential needs
such as loans or
credit cards
The money a bank
takes out of your A plan to track
Bank fees account to pay for Budget income and expenses
services or because
of penalties (these
will vary by bank)

Itemized accounts of
cost of goods sold, Cost incurred for
Bills Expenses
services provided, or items or services
work done

A machine used to
ATM access cash, deposit Products and services
(automated teller cash or checks, check that are essential for
account balances, and Needs life
machine)
complete other
transactions

A legal agreement A fee charged by the


that outlines terms government on a
Lease and conditions of Taxes product, income, or
payment, usually for property
housing

Additional money
paid over time for Products and services
Interest money borrowed, Wants that are not essential
normally as a set for life
percentage rate

A type of electronic A type of electronic


payment card that payment card that
Credit Card uses money you Debit Card uses money you have
borrow and have to in your checking or
repay with interest savings account

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