Saving and Investing

This type of account typically offers higher interest rates AND requires money to be be left in the account for a set period of time.

• Traditional Savings

• Money Market

• Certificate of Deposit

• Checking

The _____ is the initial amount invested on which interest accrues.

Interest that is accrued periodically on the principal amount and previously accrued interest.

• Basic Interest

• Double Interest

• Long Term Interest

• Compound Interest

This account type is the most liquid and allows the user to spend and transfer money with ease.

• Traditional Savings

• Checking

• Certificate of Deposit

• Money Market

Type of retirement account that allows for defined, pre-tax contributions that are typically sponsored by employers.

• IRA

• 401k

• Roth IRA

• 403b

In order to ensure that all of your resources are not put in one place, experts recommend you...

• Mix up your accounts

• Switch around your investments

• Diversify your portfolio

• Start a lot of new accounts

The rule of ____ is a quick way to calculate how long it will take to double your investment. 

Money that an institution pays you for keeping your money in an account.

• Tips

• Interest

• Principal

• Deposits

Employing this practice early and often can help you make progress toward your financial goals.

• PYF - Paying Yourself First

• APR - Annual Percentage Rate

• TVM - Time Value of Money

• NSF - Non-Sufficient Funds

This type of account typically offers higher interest rates AND requires a higher initial investment.

• Traditional Savings

• Money Market

• Certificate of Deposit

• Checking