TheFEDresponsible forraising and loweringinterest rates inorder to influencethe money supply inthe US(the nation's bank)DiscretionaryIncomeA surplus the amountof income that is leftfor an individual,household, orbusiness after payingthe necessary oressential expensesUsuryAn unlawful act- theact of lending moneyat an interest ratethat is consideredunreasonably high orthat is higher than therate permitted by lawCDsavings instrumentwhere a certainamount of money isheld for specifiedamount of time - iftaken out earlythere are penaltiesCapacityrefers to howmuch credit youare able tohandle- howmuch can youafford to borrow?DeficitWhen yourspendingexceeds yourincome- this isNOT GOODCo-Signera person whoagrees to belegally responsibleto pay a debt if theborrower does notpay back a loan asagreedUnsecuredLoanA student loan isan example ofthis type of loan-where there isno collateral atstake to repay itDirectDepositallows your employer tomake deposits straightinto your bank accountinstead of giving you apaper check to deposityourself. This allows youto access your moneymore quickly and easilyFiatMoney that isnot backed byanything butour belief thatis has valueAPRAnnualPercentageRate - amountof interestcharged on aloanInflationa generalincrease in pricesand fall in thepurchasing valueof money over agiven timeLiquiditythe ability toconvertsomething tocash quickly-SavingsaccountsInstallmentLoanloans that allowyou to borrowmoney and pay itback in equalmonthly paymentswith a fixedinterest rateNetPayMoney youreceiveAFTERtaxes anddeductionsPrincipalthe money thatyou originallyborrowed andgoes down asyou begin to paythe loan backPYFstrategywhere youput saving foryour future asa priorityGarnishmentA court orderrequiring anemployer to paypart of anemployee's wagesto the creditorLiabilitysomething aperson orcompany owes,usually a sum ofmoney(yourresponsibilities)VariableExpensecosts thatchangefrom monthto monthGrossWagesMoney youmakeBEFOREtaxes anddeductionsCertifiedCheckA personal checkthat has beenverified by a bankemployee that thefunds are actuallyin the accountRuleof 72the magic rule -the time OR theAPR needed toDOUBLE yourmoney(investment)CollateralOne of the 3 "C"sof credit -somethingprovided to alender as aguarantee ofrepaymentFDICGovernmentInsures bankaccounts upto $250,000USTreasuryGovernmentdepartmentthat collectstaxes andprints moneyRoutingNumber9 digit numberon bottom of acheck that tellsthe bank wherethe accountcame fromFICAPart of themandatory taxesthat are withheldfrom your check -include Medicareand SocialSecurityIRSmust fileincomeearningsannually tothem - as theycollect taxesU.S.SavingsBondinvestment productissued by the U.S.Department of theTreasury to helppay for the U.S.government'sborrowing needsInterestThe cost forborrowingmoney - usuallyexpressed as a%Endorsementsigning the back ofa check beforeyou can deposit itin your account.-be specific withwhere you wantyour money to goPhishinga method of identitytheft carried outthrough the creationof a fraudulentwebsite, email, ortext appearing torepresent a legitimatefirmRedliningillegal practice inwhich lenders avoidproviding servicesto individuals livingin poor communitiesor based on racediscriminationSpendingmore moneythan youhave in youraccountOverdraftCashier'sCheckcheck drawnfrom the bank'sown funds, notyours, andsigned by acashier or tellerSecuredLoana loan backedby collateral—financial assetsyou own, like ahome or a carMortgagetype of loan usedto purchase ormaintain a home,land, or othertypes of realestateMoneyOrdera printed order forpayment of aspecified sum,issued by a bankor Post Office- becareful of forgeriesWindfallunexpected goodfortune in income-examples-inheritance, lotterywinning, giftsEmergencyFundSavings of around3-6 months ofincome - just "incase" somethingunforeseenhappensDependenta person whorelies on another,especially afamily member,for financialsupportCreditUnionnonprofitfinancialinstitutionowned by itsmembersBarterExchangegoods orserviceswithout usingmoneySecuredCreditCardtype of credit cardthat is backed by acash deposit from thecardholder- used toimprove their creditscores or establish acredit history.Bankruptcylegal process throughwhich people or otherentities who cannotrepay debts tocreditors may seekrelief from some or allof their debtsFixedExpensebills, that must bepaid each monthand generallycost the sameamount- ex: carpaymentCharactera borrower'spayment history,credit score,credit history, andrelationship withprior debtorsTruth inLendingActLaw thatrequires lendersto provide youwith the totalloan costinformationForeclosurea process that beginswhen a borrower failsto make theirmortgage payments,the lender typicallyrepossesses andattempts to sell thehousePayDayLoansA short term -high cost loanwhere theperson's next paycheck is used ascollateralTheFEDresponsible forraising and loweringinterest rates inorder to influencethe money supply inthe US(the nation's bank)DiscretionaryIncomeA surplus the amountof income that is leftfor an individual,household, orbusiness after payingthe necessary oressential expensesUsuryAn unlawful act- theact of lending moneyat an interest ratethat is consideredunreasonably high orthat is higher than therate permitted by lawCDsavings instrumentwhere a certainamount of money isheld for specifiedamount of time - iftaken out earlythere are penaltiesCapacityrefers to howmuch credit youare able tohandle- howmuch can youafford to borrow?DeficitWhen yourspendingexceeds yourincome- this isNOT GOODCo-Signera person whoagrees to belegally responsibleto pay a debt if theborrower does notpay back a loan asagreedUnsecuredLoanA student loan isan example ofthis type of loan-where there isno collateral atstake to repay itDirectDepositallows your employer tomake deposits straightinto your bank accountinstead of giving you apaper check to deposityourself. This allows youto access your moneymore quickly and easilyFiatMoney that isnot backed byanything butour belief thatis has valueAPRAnnualPercentageRate - amountof interestcharged on aloanInflationa generalincrease in pricesand fall in thepurchasing valueof money over agiven timeLiquiditythe ability toconvertsomething tocash quickly-SavingsaccountsInstallmentLoanloans that allowyou to borrowmoney and pay itback in equalmonthly paymentswith a fixedinterest rateNetPayMoney youreceiveAFTERtaxes anddeductionsPrincipalthe money thatyou originallyborrowed andgoes down asyou begin to paythe loan backPYFstrategywhere youput saving foryour future asa priorityGarnishmentA court orderrequiring anemployer to paypart of anemployee's wagesto the creditorLiabilitysomething aperson orcompany owes,usually a sum ofmoney(yourresponsibilities)VariableExpensecosts thatchangefrom monthto monthGrossWagesMoney youmakeBEFOREtaxes anddeductionsCertifiedCheckA personal checkthat has beenverified by a bankemployee that thefunds are actuallyin the accountRuleof 72the magic rule -the time OR theAPR needed toDOUBLE yourmoney(investment)CollateralOne of the 3 "C"sof credit -somethingprovided to alender as aguarantee ofrepaymentFDICGovernmentInsures bankaccounts upto $250,000USTreasuryGovernmentdepartmentthat collectstaxes andprints moneyRoutingNumber9 digit numberon bottom of acheck that tellsthe bank wherethe accountcame fromFICAPart of themandatory taxesthat are withheldfrom your check -include Medicareand SocialSecurityIRSmust fileincomeearningsannually tothem - as theycollect taxesU.S.SavingsBondinvestment productissued by the U.S.Department of theTreasury to helppay for the U.S.government'sborrowing needsInterestThe cost forborrowingmoney - usuallyexpressed as a%Endorsementsigning the back ofa check beforeyou can deposit itin your account.-be specific withwhere you wantyour money to goPhishinga method of identitytheft carried outthrough the creationof a fraudulentwebsite, email, ortext appearing torepresent a legitimatefirmRedliningillegal practice inwhich lenders avoidproviding servicesto individuals livingin poor communitiesor based on racediscriminationSpendingmore moneythan youhave in youraccountOverdraftCashier'sCheckcheck drawnfrom the bank'sown funds, notyours, andsigned by acashier or tellerSecuredLoana loan backedby collateral—financial assetsyou own, like ahome or a carMortgagetype of loan usedto purchase ormaintain a home,land, or othertypes of realestateMoneyOrdera printed order forpayment of aspecified sum,issued by a bankor Post Office- becareful of forgeriesWindfallunexpected goodfortune in income-examples-inheritance, lotterywinning, giftsEmergencyFundSavings of around3-6 months ofincome - just "incase" somethingunforeseenhappensDependenta person whorelies on another,especially afamily member,for financialsupportCreditUnionnonprofitfinancialinstitutionowned by itsmembersBarterExchangegoods orserviceswithout usingmoneySecuredCreditCardtype of credit cardthat is backed by acash deposit from thecardholder- used toimprove their creditscores or establish acredit history.Bankruptcylegal process throughwhich people or otherentities who cannotrepay debts tocreditors may seekrelief from some or allof their debtsFixedExpensebills, that must bepaid each monthand generallycost the sameamount- ex: carpaymentCharactera borrower'spayment history,credit score,credit history, andrelationship withprior debtorsTruth inLendingActLaw thatrequires lendersto provide youwith the totalloan costinformationForeclosurea process that beginswhen a borrower failsto make theirmortgage payments,the lender typicallyrepossesses andattempts to sell thehousePayDayLoansA short term -high cost loanwhere theperson's next paycheck is used ascollateral

W!SE Financial Literacy - Call List

(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.


1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43
44
45
46
47
48
49
50
51
  1. responsible for raising and lowering interest rates in order to influence the money supply in the US (the nation's bank)
    The FED
  2. A surplus the amount of income that is left for an individual, household, or business after paying the necessary or essential expenses
    Discretionary Income
  3. 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
  4. savings instrument where a certain amount of money is held for specified amount of time - if taken out early there are penalties
    CD
  5. refers to how much credit you are able to handle- how much can you afford to borrow?
    Capacity
  6. When your spending exceeds your income- this is NOT GOOD
    Deficit
  7. 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
  8. A student loan is an example of this type of loan- where there is no collateral at stake to repay it
    Unsecured Loan
  9. 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
  10. Money that is not backed by anything but our belief that is has value
    Fiat
  11. Annual Percentage Rate - amount of interest charged on a loan
    APR
  12. a general increase in prices and fall in the purchasing value of money over a given time
    Inflation
  13. the ability to convert something to cash quickly- Savings accounts
    Liquidity
  14. loans that allow you to borrow money and pay it back in equal monthly payments with a fixed interest rate
    Installment Loan
  15. Money you receive AFTER taxes and deductions
    Net Pay
  16. the money that you originally borrowed and goes down as you begin to pay the loan back
    Principal
  17. strategy where you put saving for your future as a priority
    PYF
  18. A court order requiring an employer to pay part of an employee's wages to the creditor
    Garnishment
  19. something a person or company owes, usually a sum of money (your responsibilities)
    Liability
  20. costs that change from month to month
    Variable Expense
  21. Money you make BEFORE taxes and deductions
    Gross Wages
  22. A personal check that has been verified by a bank employee that the funds are actually in the account
    Certified Check
  23. the magic rule - the time OR the APR needed to DOUBLE your money (investment)
    Rule of 72
  24. One of the 3 "C"s of credit -something provided to a lender as a guarantee of repayment
    Collateral
  25. Government Insures bank accounts up to $250,000
    FDIC
  26. Government department that collects taxes and prints money
    US Treasury
  27. 9 digit number on bottom of a check that tells the bank where the account came from
    Routing Number
  28. Part of the mandatory taxes that are withheld from your check - include Medicare and Social Security
    FICA
  29. must file income earnings annually to them - as they collect taxes
    IRS
  30. 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
  31. The cost for borrowing money - usually expressed as a %
    Interest
  32. 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
  33. a method of identity theft carried out through the creation of a fraudulent website, email, or text appearing to represent a legitimate firm
    Phishing
  34. illegal practice in which lenders avoid providing services to individuals living in poor communities or based on race discrimination
    Redlining
  35. Overdraft
    Spending more money than you have in your account
  36. check drawn from the bank's own funds, not yours, and signed by a cashier or teller
    Cashier's Check
  37. a loan backed by collateral—financial assets you own, like a home or a car
    Secured Loan
  38. type of loan used to purchase or maintain a home, land, or other types of real estate
    Mortgage
  39. a printed order for payment of a specified sum, issued by a bank or Post Office- be careful of forgeries
    Money Order
  40. unexpected good fortune in income- examples- inheritance, lottery winning, gifts
    Windfall
  41. Savings of around 3-6 months of income - just "in case" something unforeseen happens
    Emergency Fund
  42. a person who relies on another, especially a family member, for financial support
    Dependent
  43. nonprofit financial institution owned by its members
    Credit Union
  44. Exchange goods or services without using money
    Barter
  45. 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
  46. 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
  47. bills, that must be paid each month and generally cost the same amount- ex: car payment
    Fixed Expense
  48. a borrower's payment history, credit score, credit history, and relationship with prior debtors
    Character
  49. Law that requires lenders to provide you with the total loan cost information
    Truth in Lending Act
  50. a process that begins when a borrower fails to make their mortgage payments, the lender typically repossesses and attempts to sell the house
    Foreclosure
  51. A short term - high cost loan where the person's next pay check is used as collateral
    Pay Day Loans