Question 1

What's a routing number?

Accepted Answer

A 9-digit number that identifies your bank. It tells money where to go — like the bank's address. It's not secret; it's printed on checks and shown in your banking app.

Question 2

What's an account number?

Accepted Answer

The number that identifies your specific account at that bank. Keep this one private — with it, someone could set up payments against your account.

Question 3

What's a credit score?

Accepted Answer

A number (usually 300–850) that summarizes how reliably you've repaid borrowed money. Lenders, landlords and some insurers look at it. It changes over time as your history grows.

Question 4

What's APR?

Accepted Answer

Annual Percentage Rate — the yearly cost of borrowing money. A 24% APR credit card charges you roughly 2% of your unpaid balance each month. Pay the full balance and you usually pay no interest at all.

Question 5

What's a deductible?

Accepted Answer

The amount you pay yourself before insurance starts paying. A $1,000 deductible means you cover the first $1,000 of a claim.

Question 6

What's a W-2?

Accepted Answer

A form your employer sends every January showing what you earned last year and how much tax was withheld. You use it to file your tax return.

Question 7

What's a W-4?

Accepted Answer

A form you fill out when you're hired. It tells your employer how much tax to hold back from each paycheck. You can update it any time.

Question 8

Why are taxes taken out of my paycheck?

Accepted Answer

So you pay tax gradually instead of one huge bill at the end of the year. Your employer sends it in for you — that's called withholding.

Question 9

What's a security deposit?

Accepted Answer

Money you give a landlord before moving in, held in case of damage or unpaid rent. If you leave the place in good shape, you should get it back.

Question 10

What's a lease?

Accepted Answer

The written agreement between you and a landlord: how much rent is, how long you're staying, and the rules for the place. Signing it makes it binding, so read it first.

Question 11

What's an emergency fund?

Accepted Answer

Savings set aside only for surprises — a car repair, a missed shift, a medical bill. Starting with $300–$500 already prevents a lot of credit card debt.

Question 12

What's a Roth IRA?

Accepted Answer

A retirement account you open yourself. You put in money you've already paid tax on, it grows over decades, and qualified withdrawals in retirement aren't taxed.

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