Personal Financial Literacy

Front

What is a long term savings goal?

Back

A long term savings goal is a financial target that takes a long time to achieve, usually for something big, like buying a car or a house.

Front

What is an example of a long term savings goal?

Back

Buying a car.

Front

What does it mean to use a credit card?

Back

Using a credit card means borrowing money from a bank to buy something now and paying it back later.

Tags

CCSS.RI.3.5

CCSS.RI.3.3

CCSS.RI.4.3

CCSS.RI.2.5

CCSS.RI.4.5

Front

Who do you owe money to when you use a credit card?

Back

You owe money to the credit card company.

Front

What happens if you don't pay your credit card bill right away?

Back

You will owe the credit card company the amount you spent plus interest.

Front

What is interest?

Back

Interest is the extra money you pay to the bank for borrowing money.

Tags

CCSS.7.RP.A.3

Front

What is a budget?

Back

A budget is a plan that helps you decide how to spend and save your money.

Front

Why is saving money important?

Back

Saving money is important because it helps you buy things you want in the future and be prepared for emergencies.

Tags

CCSS.RL.4.5

CCSS.RI.2.9

CCSS.RI.4.8

CCSS.RI.1.9

CCSS.RL.1.5

Front

What is a short term savings goal?

Back

A short term savings goal is a financial target that you plan to achieve in a short time, like saving for a toy.

Front

What is the difference between needs and wants?

Back

Needs are things you must have to live, like food and shelter. Wants are things you would like to have but can live without.

Tags

CCSS.RL.3.1

CCSS.RI.3.2

CCSS.RL.3.2

CCSS.RL.2.2

CCSS.RL.4.1