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Financial Literacy for High School Students is an interactive and educational online course that enables students to create sound financial choices throughout their lifetime.
Modern financial education objectives come to life through engaging digital scenarios and relatable characters! Students speed up their progress by tackling problems, reflecting on their decisions, and playing games that give them real-life practice.
A tax form filled out by an individual and filed with the IRS that determines the amount of income tax owed in a single year.
A tax form, similar to the 1040 filled out by an individual and filed with the IRS. The form is used to determine the amount of income tax owed to the IRS in a single year.
A retirement account offered through an employer, where an employee can contribute money from his or her paycheck before or after taxes.
A retirement account similar to a 401(k) plan, but offered by non-profit organizations, like universities or charitable organizations.
529 college saving plan
A savings plan offering tax benefits that can be used for any qualified educational expenses.
Property owned by an individual or organization that has some value. Can refer to physical items (like a house or car) or to intangible items (like a stock or bond).
A degree granted after two years of study, often by a community or junior college.
A payment type similar to a debit card that allows you to make electronic purchases but requires that you enter a PIN (Personal Identification Number) for any transaction.
Annual Percentage Rate (APR)
Another name for the interest rate charged on the balance of a credit card.
A type of insurance that protects a policyholder in the case of a car accident. Most states require it by law.
A degree awarded by a college or university for completing undergraduate studies.
The total amount of money in a banking account at any given time.
A transfer of your existing credit card balance to another credit card.
When you buy this, you loan an amount of money to the organization issuing the it at a certain interest rate for a certain period of time. You are paid interest from this loan at regular periods, and then, when the it matures, you get back your initial investment plus any additional interest.
A plan of how you will spend the money that you make or receive.
A loan of cash you obtain with a credit card.
Certificate 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.
The request you make to your insurance company for payment of the benefits allowed by your coverage.
Interest that’s generated not only from the money you put into an account, but also from the interest you make on that money.
The number of compounding periods in one year.
These combine several student loans into one bigger loan from a single lender, which is then used to pay off the balances on the other loans.
When a product or service is illegally used to deceive you into sending money or signing up with a phony service.
A fixed fee that an individual pays for specific medical services, like a visit to the doctor’s office.
Your coverage refers to the range of protection you are eligible to receive from an insurance plan.
Companies that collect credit information about individuals. They then calculate a credit score for each individual based on this information.
A payment type that does not automatically draw money from your account. Instead, it provides a short-term loan that you can use to make everyday purchases.
A record of a person’s borrowing and repayment activity.
The amount of money that you are able to charge to a credit card. If you exceed this limit, your purchase may not go through and you could be penalized.
A record that details a person’s credit history.
A numerical rating of your credit-worthiness (how likely you are to pay off your debts).
A payment type that allows you to make electronic purchases that withdrawals the cost of the purchase directly from your checking account.
The amount you are required to pay toward each claim you make before your insurance kicks in. This cost is in addition to the regular price of your premium.
In tax terms, an expense incurred by a taxpayer that is subtracted from gross income when the taxpayer computes his or her income taxes.
Occurs when a borrower is unable or unwilling to repay a debt or required payment.
When money is added into a bank account (also known as a ‘credit’).
Allows you to have money come into your account one time or automatically, often through a paycheck.
A type of insurance that helps cover lost income when an illness or injury prevents you from working.
An upfront payment made when an item is bought on credit.
Anything you spend money on, from a pack of gum to your monthly cell phone bill.
This is the main form students use to apply for federal education grants and loans.
Insures deposits at banks that have purchased the coverage.
Federal Income Tax
The amount you are taxed on the money you earn while working.
The central banking system of the United States. It is composed of a Board of Governors, the Federal Open Market Committee (FOMC), and 12 regional banks.
Federal Student Loans
Loans that are offered directly to students by the government.
Federal Work-Study Program
A part-time employment that can be awarded as part of a federal financial aid package.
A detail of all the fees that may be charged on a bank account.
This refers to an interest rate that remains the same, over the life of the loan.
The process by which a bank or other entity takes possession of a mortgaged property when mortgage payments are not being made.
In reference to credit cards, this is the amount of time you have to pay back a balance before it starts accumulating interest.
Money given to students to help pay for their education and do not have to be repaid.
A type of insurance that covers the cost of medical expenses.
A type of insurance that covers your home as well as your possessions inside it in case of damage or loss.
The government agency in charge of collecting taxes from US citizens.
A form of fraud where a person or a group uses another person’s personal information in order to steal their money or gain access to other benefits.
Any form of money, property, or services that you receive.
Initial Fraud Alert
An alert put on your credit file to help prevent additional identity theft. The alert stays on your file for 90 days, at which point you can choose to renew it if necessary.
The percentage you make or pay on a principal (like 1% or 5%).
The fee someone pays to be able to borrow money.
When you spend money on something to gain profitable returns.
The owner of a property.
A rental agreement. It lays out the terms for the property you’d like to rent: how much you’re going to pay and how long (and how often) you’re going to pay it.
A type of insurance that ensures that another person (called a beneficiary) will be financially protected if you pass away.
Refers to how easily and quickly your assets, like your money, can be moved.
Someone who advises, evaluates, and signs off on loans to individuals and business.
Costs associated with ownership of a house, a car, or a similar purchase that are the owner’s responsibility.
A tax that pays for health care for people aged 65 and over.
Minimum Monthly Payment
In regards to credit cards, this refers to the least amount of money you are obligated to pay back on a monthly basis to avoid fees and penalties associated with not paying the minimum amount.
A type of loan used to finance the purchase of real estate.
A collection of investment vehicles that you can buy as a single package, rather than purchasing individual stocks, bonds, and other investments yourself.
The movement of funds from one account or individual to another through a bank’s website or mobile application.
These businesses offer small cash loans, usually in the range of $100 to $500, with payment due in full at the borrower’s next paycheck.
A paper payment type. You can write and sign this to pay for purchases at places that accept them.
A scam where someone tries to deceive you into providing personal information by impersonating someone, like a bank representative.
Stands for “Personal Identification Number”. Often used to complete a transaction made with a debit card.
When relating to insurance, the document that outlines the terms and conditions for your insurance coverage.
When relating to investments, this refers to the range of investments held by an individual or organization.
The amount you pay to have insurance for a specific amount of time.
A card that allows you to put a specific amount of money onto them.
The sum of money you put into an account or the amount of money (minus interest) you owe on a debt.
Private Student Loans
These Loans are financed by private companies rather than the government.
Taxes an owner pays on the value of any owned property, including land, buildings, or houses.
Rate of Return
The ratio of the money you gain on an investment in relation to the amount of money that was invested.
When referring to a vehicle, a compulsory charge for registering the vehicle with a government authority, usually a state or county.
A type of insurance that can protect you from damage or loss of your items in a rental property.
An agreement where your rental payment goes towards owning the property later on.
A certain amount of money you must have in some bank accounts at any given time to avoid being penalized.
Refers to how much money an investor could potentially earn from an investment. Usually expressed as a percentage.
In investing terms, the chance you take that an investment may or may not result in a return.
An individual retirement account designed for individual savers. The money you contribute is taxed, which means the money comes out tax-free when you retire.
When you buy something this is added to the total before you pay.
A type of savings vehicle in which you earn interest on the principal, usually without minimum balance requirements but lower interest rates.
A way to save money for the long-term, which for most people means retirement.
Money given to students to help pay for their education and do not have to be repaid. Often based on academics or sports and can be lost if the requirements are not met.
An amount of money that the property owner holds onto during the lease that can later be used to pay for any damages to the property caused by the renter. Usually equal to one month’s rent.
In investing terms, another name for a Stockholder.
In investing terms, another name for a Stock.
A tax that pays for the retirement benefits for people who are currently retired and for the future retired population.
Social Security Number
A 9-digit number issued to U.S. citizens, permanent residents, and temporary working residents.
State Income Tax
Most states charge this on all its residents based on the money you earn while working.
Shares of ownership in a company.
A place where stocks are bought and sold.
An individual who has a license to buy and sell stocks and other investments on one or more stock exchanges.
Someone who owns stock in a company.
Levels that determine, based on how much income an individual makes, what percentage of that income will be owed in taxes.
An expense incurred by a taxpayer that is subtracted from gross income when the taxpayer computes his or her income taxes.
The renter of a property.
Unsubsidized Student Loan
This is a type of federal student loan on which the government does not pay the interest that accrues while a student is in school.
Services – like electricity, water or gas – provided to the public.
This refers to an interest rate that is based on an interest rate index, which means the rate can change over the life of the loan.
A tax form employers send to each of their employees listing how much money that individual made during the last year and how much has already been paid in taxes.
A tax form an employee fills out that tells the IRS how much money to take out of each of their paychecks.
When money is taken out of a bank account (also known as a ‘debit’).
An amount taken out of you paycheck to pay for taxes.
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