Personal Finance vocabulary

Front

What is a fixed expense?

Back

An expense that occurs regularly and the amount does not change, such as rent or a subscription.

Tags

CCSS.L.2.4E

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

Front

What is a budget?

Back

An organized plan for spending and saving money.

Tags

CCSS.L.2.4E

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

Front

What does it mean to save money?

Back

To take a portion of your earnings and set it aside to use later instead of spending it now.

Tags

CCSS.L.2.4E

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

Front

What does it mean to withdraw money?

Back

To take back or away money from an account.

Tags

CCSS.RI.3.10

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

Front

What does it mean to donate?

Back

The act or instance of giving money or goods to help others.

Tags

CCSS.L.2.4E

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

Front

What is a variable expense?

Back

An expense that can change in amount and frequency, such as groceries or entertainment.

Tags

CCSS.RI.3.10

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

Front

What is a financial institution?

Back

An organization that provides financial services, such as banks and credit unions.

Front

What is interest?

Back

The money paid regularly at a particular rate for the use of borrowed money.

Tags

CCSS.7.RP.A.3

Front

What is a loan?

Back

Money that is borrowed and is expected to be paid back with interest.

Tags

CCSS.L.2.4E

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

Front

What is a salary?

Back

A fixed regular payment, typically paid on a monthly or biweekly basis, for work done.

Tags

CCSS.RI.3.10

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4