Financial Literacy

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What is a debit card?

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A debit card is a payment card that allows you to spend money directly from your checking account.

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What is a credit card?

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A credit card is a payment card that allows you to borrow money from a bank to make purchases, which you must pay back later.

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What is a check register?

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A check register is a booklet used to record checking account transactions, including deposits and withdrawals.

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How do you calculate lifetime earnings?

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To calculate lifetime earnings, multiply your annual salary by the number of years you expect to work.

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What does it mean to budget?

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Budgeting means planning how to spend your money wisely to meet your needs and goals.

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What is savings?

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Savings is the money that you set aside for future use, often kept in a bank account.

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What is interest?

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Interest is the cost of borrowing money or the earnings from saving money, usually expressed as a percentage.

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What is a bank statement?

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A bank statement is a summary of all transactions in your bank account over a specific period.

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What is an expense?

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An expense is any money that you spend on goods or services.

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What is income?

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Income is the money you earn from work, investments, or other sources.