everfi cards Flashcards
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.
associate’s 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 a bachelor of arts degree
bachelor’s degree
after completing a bachelor’s degree, you can continue on to complete a master’s program in a variety of fields. this type of degree typically takes one or two years, but can sometimes be completed on evenings and weekends while your working full-time.
master’s degree
a type of degree that is highly specialized in regards to a specific profession and typically takes three to five years to earn after completing your bachelor’s degree.
doctoral degree
a type of bank account in which interest is not usually applied to the principal, but offers a safe place to store your money and allows you to make withdrawals using an atm card, debit card, or personal check.
checking account
a type of savings vehicle in which interest is earned on the deposit amounts (principal). this type of account usually require a minimum balance, offer lower interest rates, and have restrictions on the number of withdrawals allowed within a given time period.
savings account
a payment type that does not automatically draw money from your checking account. it provides a short term loan from the credit card company. at the end of each purchase (usually a month), you receive a bill with all of your charges. you will have the option to pay off your balance (the amount you owe), or pay the minimum payment. if you do not pay your entire balance, you start to pay interest on the money you owe.
credit card
a payment type that allows you to make purchases using money directly from your checking account.
debit card
when money is added into a bank account, also known as a ‘credit’.
deposit
the money your spending. this includes everything you buy such as, food concert tickets, or even a pack of gum.
expenses
a plan for spending or saving money that is made up of income and expenses.
budget
an expense that occurs regularly. this amount typically does not change from month-to-month.
fixed expenses
spending that is based on the purchase decisions you make. these can vary from month-to-month.
variable expenses
money you earn, like money you may get from your birthday or allowance from your parents.
income
positive earnings, when you have earned more in revenue than you spent on expenses.
profit
