Money Management, Middle School FACS

A machine that allows you to make electronic deposits and withdrawals from your bank accounts. Stands for Automated Teller Machine.

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

a type of insurance that covers any damage you may cause to another person or their vehicle

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 and ATM card, debit card or personal check

a small plastic card issued by a bank, business, etc., allowing the holder to purchase goods or services on credit. You will pay interest on the money you owe. It does not come from your checking account.

A rating used by credit reporting companies to help lenders decide whether and/or how much credit can be extended to a borrower.

A bank card that automatically deducts the amount of a purchase from the checking account of the cardholder

to put money into an account

An automatic deposit of a paycheck without having to take a physical check to the bank.

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

the taxes that the federal government imposes on personal income in order to provide services such as healthcare, national defense, and scientific programs. Based on the amount of money a person earns.

Expenses that do not change from month to month, such as auto insurance or rent.

Insurance that covers medical illness or injury.

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

Tax paid to the state, federal, and local governments based on income earned over the past year.