Personal Financial Literacy

Front

What is Personal Financial Literacy?

Back

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

Front

What is a debit card?

Back

A debit card is a payment card that deducts money directly from a consumer's checking account to pay for a purchase.

Tags

CCSS.RI.6.3

CCSS.RI.6.5

CCSS.RI.7.3

CCSS.RI.7.5

CCSS.RI.8.5

Front

What is online banking?

Back

Online banking is a service that allows customers to conduct financial transactions via the internet.

Front

What is a check register?

Back

A check register is a record of all transactions in a checking account, including deposits, withdrawals, and the current balance.

Front

What is a deposit?

Back

A deposit is the act of placing money into a bank account.

Front

What is the purpose of insurance?

Back

Insurance is a financial product that provides protection against financial loss or risk.

Front

What is a credit report?

Back

A credit report is a detailed report of an individual's credit history, used by lenders to assess creditworthiness.

Front

What is a credit score?

Back

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

Front

What is the difference between income and expenses?

Back

Income is the money received, while expenses are the costs incurred in the process of living.

Front

What is budgeting?

Back

Budgeting is the process of creating a plan to spend your money, ensuring that you can cover your expenses and save for future goals.