EverFi Future Smart Flashcards
flashcards boiiii
What is an associate’s degree?
A degree that typically takes two years of full time study after high school and is dedicated to training toward a specific career or skill
What is a bachelor’s degree?
A 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.
What is a Master’s degree?
(after completing a bachelor’s degree) This type of degree typically takes one or two years of full time study. It can be to study many fields of work.
What is a Doctoral 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.
What is a checking account?
A type of bank account in which interest is not usually applied to principal, but offers a safe place to store and save your money. It allows you to make withdrawals using an ATM card, debit card, or personal check
What is a savings account?
A type of savings vehicle in which interest is earned on the deposit amount.
What is a credit card?
A card that accesses a separate account that is paid off at the end of each month.
What is a deposit?
When money is added to the bank, also known as a credit.
What is a debit card?
A card that accesses the checking account. And it used for normal deposits and withdrawals.
What are expenses?
The money that you spend.
What is a budget?
A plan for spending and saving money. Puts limits on spending.
What are fixed expenses?
Expenses that occur regularly.
What are variable expenses?
Spending that is based on the choices you make. These expenses can vary.
What is income?
The money you earn, like birthday money.
What is profit?
When you earn more money than you spend. In other words, extra bonus money.
