What does 'pay yourself first' mean?
Review: Checking Accounts (Lil Brussel)

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•
Mathematics
•
9th Grade
•
Hard
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1.
FLASHCARD QUESTION
Front
Back
It means to set aside a portion of your income for savings before spending on other expenses.
2.
FLASHCARD QUESTION
Front
What is an overdraft fee?
Back
A charge incurred when you withdraw more money than your account holds.
3.
FLASHCARD QUESTION
Front
What is a checking account?
Back
A bank account that allows for deposits and withdrawals, typically used for daily transactions.
4.
FLASHCARD QUESTION
Front
What is budgeting?
Back
The process of creating a plan to spend your money, ensuring you have enough for your needs.
5.
FLASHCARD QUESTION
Front
What is the purpose of overdraft protection?
Back
To allow transactions to go through even if you don't have enough funds, but it may not prevent fees.
6.
FLASHCARD QUESTION
Front
Why is it important to save money?
Back
To prepare for future expenses, emergencies, and to achieve financial goals.
7.
FLASHCARD QUESTION
Front
What is a service fee?
Back
A charge by the bank for maintaining your account or for specific services.
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