Financial Literacy Review

Front

What is a withdrawal?

Back

Money subtracted from an account.

Tags

CCSS.5.NBT.B.7

Front

What does balance mean in financial terms?

Back

The amount of money available in your account.

Tags

CCSS.6.NS.C.5

Front

What can happen if a payment is not made on time with a credit card?

Back

You can be charged a late fee.

Front

How long does a negative credit action usually remain on a credit report?

Back

7 years.

Front

What is a deposit?

Back

Money added to an account.

Front

What is a credit card?

Back

A card that allows you to borrow money from a bank to make purchases.

Front

What is a debit card?

Back

A card that deducts money directly from your bank account when you make a purchase.

Front

What is income?

Back

Money received, especially on a regular basis, for work or through investments.

Front

What is a late fee?

Back

A charge for not making a payment by the due date.

Tags

CCSS.RI.7.5

CCSS.RI.7.3

CCSS.RI.6.3

CCSS.RI.8.5

CCSS.RI.6.5

Front

What is a bank statement?

Back

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

Tags

CCSS.RI.8.4

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.5.10

CCSS.RI.4.10