Everfi vocab

Question 1

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

Answer 1

Associate degree:

Question 2

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.

Answer 2

Bachelor degree

Question 3

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 you’re working full-time.

Answer 3

Master degree

Question 4

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

Answer 4

Doctoral degree

Question 5

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

Answer 5

Checking account

Question 6

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 period (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.

Answer 6

Credit

Question 7

a payment type that allows you to make purchases using money directly from your checking account

Answer 7

Debit

Question 8

when money is added into a bank account, also know as a ‘credit’

Answer 8

Deposit

Question 9

the money you’re spending. This includes everything you buy, such as food, concert tickets, or even a pack of gum.

Answer 9

Expensive

Question 10

a plan for spending or saving money that is made up of income and expenses

Answer 10

Budget

Question 11

an expense that occurs regularly. This amount typically does not change from month-to-month.

Answer 11

Fixed expenses

Question 12

spending that is based on the purchase decisions you make. These can vary from month to month.

Answer 12

Variable expenses

Question 13

money you earn, like money you may get from your birthday or allowance from you parents

Answer 13

Income

Question 14

positive earnings, when you have earned more in revenue than you spent on expenses

Answer 14

.Profit:

Question 15

: the amount of money a business makes within a specific time period, typically a month

Answer 15

Revenue

Question 16

a fixed payment, usually paid on a weekly or bi-weekly basis that does not vary depending on how little or how much you work

Answer 16

.Salary

Question 17

amount paid based on a certain time period. You can earn a certain wage per hour, day or week.

Answer 17

Wage

Question 18

a type of savings vehicle in which interest is earned on the deposit amount (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.

Answer 18

Savings account