Personal Finance Vocabulary Warm-up

Match the column on the right with the definitions:

________ mortgage (a) Money.

________ default (b) Stays the same over time.

________ funds (c) Guarantee a loan for somebody else.

________ variable (d) Money that you borrow on a credit card.

________ fixed (e) A check to see how well you can pay back a loan.

________ co-sign (f) The maximum you can borrow.

________ cash advance (g) A loan to buy a house or property.

________ credit rating (h) A bank account you use to save money.

________ credit evaluation (i) Be able to pay for goods or pay back a loan.

________ credit limit (j) Changes over time.

________ annual (k) Not pay back a loan.

________ savings (l) The cost of borrowing money.

________ checking (m) An opinion on how well you can pay back a loan.

________ afford (n) Your income after you pay income taxes and expenses.

________ interest (o) The basic interest rate that banks use.

________ net income (p) A bank account you use for day to day expenditures.

gross income (q) Yearly.

________ prime (r) Your income before you pay taxes.

Banking Vocabulary Quiz Pair work: Student A
A: What word or phrase means…?
B: I will give you a clue. It is one word. It starts with the letter…and ends with the letter…
(It is two words. The first word starts with the letter…and ends with the letter…. The second…)
Money.

Stays the same over time.

Guarantee a loan for somebody else.

Money that you borrow on a credit card.

A check to see how well you can pay back a loan.

The maximum you can borrow.

A loan to buy a house or property.

A bank account you use to save money.

Be able to pay for goods or pay back a loan.

The amount of money in an account: could be positive or

negative. 
Either a paper or electronic summary of the money paid
into or out of an account that month.
An instruction to the bank to pay the same person or
company the same amount of money on a regular
schedule, often monthly.
Any situation where money is deposited or withdrawn
from an account.
Someone who is paid the money

A device that gives money and can be used to do other

account transactions. 
A device that gives out tickets in a queuing system for a
call number
A written order telling the bank to pay or transfer money
to someone.
The area in a bank where the tellers work.

An initial payment made when something is bought on

credit.
Answers for student B: Variable, Default, Interest, Credit-rating, Net income, Prime rate,
Checking account, Annual, The Principal, Bill, Asset, Collateral, Denomination, Cash recycler,
Penalty, Decline, Pay in installments, Overdraft
Banking Vocabulary Quiz Pair work: Student B
A: What word or phrase means…?
B: I will give you a clue. It is one word. It starts with the letter…and ends with the letter…
(It is two words. The first word starts with the letter…and ends with the letter…. The second…)
Changes over time

Not pay back a loan.

The cost of borrowing money.

An opinion on how well you can pay back a loan.

Your income after you pay income taxes and expenses.

Your income before you pay taxes.

The basic interest rate that banks use.

A bank account you use for day to day expenditures.

Yearly.

The original sum of money borrowed in a loan or put into

an investment
A paper money note

An item of property owned by a person or company,

regarded as having value and available to meet debts,
commitments.
Something pledged as security for repayment of a loan, to
be forfeited in the event of a default.
The face value of paper money.

A device that accepts cash. 

A punishment fee

Reject

Pay a certain amount of money at regular periods of time

To withdraw more money than is available in a bank

account
Answers for student A: Funds, Fixed, Co-sign, Cash advance, Credit-evaluation, Credit-limit,
Mortgage, Savings account, Afford, Balance, Bank statement, standing order, Transaction,
Payee, Automated teller machine, Take-A-Number ticket dispenser, A check, Counter, Down
payment