Financial Literacy Vocabulary

Front

Savings

Back

Money placed in a bank account that is not intended to be spent immediately

Front

What is a credit report?

Back

A document that provides detailed information about all debts and financial history

Front

Lenders use this to decide if someone is eligible for a loan. Options: credit report, bank statement, check register, withdraw

Back

credit report

Front

What is interest?

Back

money that is paid for borrowing someone else's money

Front

What is a deposit?

Back

a sum of money that is placed or kept in a bank account

Front

What is the act of taking money out of an account called?

Back

Withdrawal

Front

A plastic card that allows users to make purchases and then the money is automatically deducted from the owners' financial account is called what?

Back

debit card

Front

A transaction in which a sum of money is put into a bank account is called a

Back

deposit

Front

Money or something that is borrowed and must be given back after a period of time

Back

Loan

Front

Moving money between accounts such as moving money from your savings to your checking account

Back

transfer