(Print) Use this randomly generated list as your call list when playing the game. There is no need to say the BINGO column name. Place some kind of mark (like an X, a checkmark, a dot, tally mark, etc) on each cell as you announce it, to keep track. You can also cut out each item, place them in a bag and pull words from the bag.
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a person who relies on another, especially a family member, for financial support
Dependent
Money you make BEFORE taxes and deductions
Gross Wages
A court order requiring an employer to pay part of an employee's wages to the creditor
Garnishment
a process that begins when a borrower fails to make their mortgage payments, the lender typically repossesses and attempts to sell the house
Foreclosure
allows your employer to make deposits straight into your bank account instead of giving you a paper check to deposit yourself. This allows you to access your money more quickly and easily
Direct Deposit
bills, that must be paid each month and generally cost the same amount- ex: car payment
Fixed Expense
type of loan used to purchase or maintain a home, land, or other types of real estate
Mortgage
A student loan is an example of this type of loan- where there is no collateral at stake to repay it
Unsecured Loan
Government Insures bank accounts up to $250,000
FDIC
loans that allow you to borrow money and pay it back in equal monthly payments with a fixed interest rate
Installment Loan
the period between the end of a billing cycle and the date your payment is due. During this time, you may not be charged interest as long as you pay your balance in full by the due date.
Grace Period
Law that requires lenders to provide you with the total loan cost information
Truth in Lending Act
must file income earnings annually to them - as they collect taxes
IRS
responsible for raising and lowering interest rates in order to influence the money supply in the US
(the nation's bank)
The FED
Annual Percentage Rate - amount of interest charged on a loan
APR
a loan backed by collateral—financial assets you own, like a home or a car
Secured Loan
A personal check that has been verified by a bank employee that the funds are actually in the account
Certified Check
the ability to convert something to cash quickly- Savings accounts
Liquidity
Money you receive AFTER taxes and deductions
Net Pay
The cost for borrowing money - usually expressed as a %
Interest
When your spending exceeds your income- this is NOT GOOD
Deficit
a person who agrees to be legally responsible to pay a debt if the borrower does not pay back a loan as agreed
Co-Signer
9 digit number on bottom of a check that tells the bank where the account came from
Routing Number
type of credit card that is backed by a cash deposit from the cardholder- used to improve their credit scores or establish a credit history.
Secured Credit Card
An unlawful act- the act of lending money at an interest rate that is considered unreasonably high or that is higher than the rate permitted by law
Usury
the magic rule - the time OR the APR needed to DOUBLE your money (investment)
Rule of 72
a printed order for payment of a specified sum, issued by a bank or Post Office- be careful of forgeries
Money Order
savings instrument where a certain amount of money is held for specified amount of time - if taken out early there are penalties
CD
refers to how much credit you are able to handle- how much can you afford to borrow?
Capacity
a borrower's payment history, credit score, credit history, and relationship with prior debtors
Character
A surplus the amount of income that is left for an individual, household, or business after paying the necessary or essential expenses
Discretionary Income
Part of the mandatory taxes that are withheld from your check - include Medicare and Social Security
FICA
a general increase in prices and fall in the purchasing value of money over a given time
Inflation
check drawn from the bank's own funds, not yours, and signed by a cashier or teller
Cashier's Check
legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts
Bankruptcy
strategy where you put saving for your future as a priority
PYF
investment product issued by the U.S. Department of the Treasury to help pay for the U.S. government's borrowing needs
U.S. Savings Bond
something a person or company owes, usually a sum of money
(your responsibilities)
Liability
a method of identity theft carried out through the creation of a fraudulent website, email, or text appearing to represent a legitimate firm
Phishing
Exchange goods or services without using money
Barter
illegal practice in which lenders avoid providing services to individuals living in poor communities or based on race discrimination
Redlining
signing the back of a check before you can deposit it in your account.- be specific with where you want your money to go
Endorsement
nonprofit financial institution owned by its members
Credit Union
Savings of around 3-6 months of income - just "in case" something unforeseen happens
Emergency Fund
One of the 3 "C"s of credit -something provided to a lender as a guarantee of repayment
Collateral
A short term - high cost loan where the person's next pay check is used as collateral
Pay Day Loans
costs that change from month to month
Variable Expense
the money that you originally borrowed and goes down as you begin to pay the loan back
Principal
unexpected good fortune in income- examples- inheritance, lottery winning, gifts
Windfall
