6th Grade Financial Literacy Vocabulary

Front

What is the sales tax rate of New City, Texas represented as a decimal?

Back

0.0815

Front

What do you call the money you put into your bank account?

Back

Deposit

Front

What is a plan for how you spend your money?

Back

Budget

Front

What are useful or valuable things, like property, a car, a home, or money?

Back

Assets

Front

If Sammy’s expenses are greater than his income, what must he do to balance his budget?

Back

Earn more money AND spend less

Front

What is the term for money received, especially on a regular basis, for work or through investments?

Back

Income

Front

What do you call the amount of money you owe to others?

Back

Liabilities

Front

What is the difference between what you own and what you owe?

Back

Net Worth

Front

What is a financial plan that outlines expected income and expenses?

Back

Budgeting

Front

What is the term for taking money out of your bank account?

Back

Withdrawal