2nd Grade Math Personal Finance Vocabulary

Front

What is saving?

Back

Saving is keeping money for future use instead of spending it right away.

Front

What is spending?

Back

Spending is using money to buy things or pay for services.

Front

What does it mean to borrow?

Back

To borrow means to take something from someone with the promise to return it later.

Front

What is responsible borrowing?

Back

Responsible borrowing means taking care of the borrowed item and returning it in good condition.

Front

What is irresponsible borrowing?

Back

Irresponsible borrowing means not taking care of the borrowed item or not returning it properly.

Front

What happens when you spend your money?

Back

When you spend your money, you have less money left.

Front

What does it mean to deposit money?

Back

To deposit money means to put money into a bank account.

Front

What is a loan?

Back

A loan is money that is borrowed and must be paid back.

Front

What does it mean to lend money?

Back

To lend money means to give someone money with the expectation that they will return it.

Front

What is a budget?

Back

A budget is a plan for how to spend and save money.