Financial Literacy Vocab

Front

What is a budget?

Back

A plan for spending.

Front

Revenue

Back

What you earn

Front

Expenses:

Back

What you spend.

Front

Net Income:

Back

Total after taxes.

Front

Asset: Something you own with value

Back

Something you own and has value

Front

Liability?

Back

Something you owe.

Front

Balance:

Back

Difference between what you spend and earn in an account.

Front

Credit:

Back

Money borrowed that must be repaid with interest.

Front

Fixed Expenses:

Back

Cost of goods that remain the same price monthly.

Front

Variable Expenses?

Back

Cost of goods that change in price monthly.