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What is financial literacy?

Back

Financial literacy is the ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing.

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What is net pay?

Back

Net pay is the amount of money left over from your paycheck after taxes and deductions have been taken out.

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What is a surplus?

Back

A surplus is the amount of money left over each month after all expenses have been paid.

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What is an investment?

Back

An investment is anything purchased with the hope that it will generate income or increase in value over time.

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What does it mean to diversify investments?

Back

To diversify investments means to spread your investments across various assets to reduce risk.

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What is the importance of budgeting?

Back

Budgeting helps individuals plan their spending, save for future goals, and avoid debt.

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What is the difference between gross pay and net pay?

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Gross pay is the total amount earned before any deductions, while net pay is what you take home after deductions.

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What is compound interest?

Back

Compound interest is the interest on a loan or deposit calculated based on both the initial principal and the accumulated interest from previous periods.

Tags

CCSS.7.RP.A.3

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What is a loan?

Back

A loan is a sum of money borrowed that is expected to be paid back with interest.

Tags

CCSS.RI.11-12.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5

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What is a credit score?

Back

A credit score is a numerical representation of a person's creditworthiness, based on their credit history.