Financial Literacy

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What is a fixed expense?

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A fixed expense is a cost that does not change from month to month, such as rent or a subscription service.

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What is a variable expense?

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A variable expense is a cost that can change each month, such as groceries or entertainment.

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What are financial institutions?

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Financial institutions are organizations that provide financial services, such as banks and credit unions.

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What is a bank?

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A bank is a financial institution that accepts deposits from the public and provides loans.

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What is a credit union?

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A credit union is a member-owned financial cooperative that provides savings and loan services.

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What is health insurance?

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Health insurance is a type of insurance that covers medical expenses.

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What is a checkbook?

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A checkbook is a book of checks that allows you to withdraw money from your bank account.

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Can you write checks if you have no money in your account?

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No, you cannot write checks if you do not have enough money in your account.

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What is a subscription service?

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A subscription service is a business model where customers pay a recurring fee to access a product or service.

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What is budgeting?

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Budgeting is the process of creating a plan to spend your money wisely.