Financial Literacy 5th Grade

Front

What is financial literacy?

Back

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

Front

Why is budgeting important?

Back

Budgeting helps individuals plan their spending, save money, and ensure they can meet their financial obligations.

Front

What is a budget?

Back

A budget is a plan that outlines expected income and expenses over a specific period.

Tags

CCSS.RI.4.3

CCSS.RI.4.5

CCSS.RI.5.3

CCSS.RI.5.5

CCSS.RI.6.3

Front

What does saving mean?

Back

Saving is the process of setting aside a portion of income for future use.

Tags

CCSS.RI.3.5

CCSS.RI.4.5

CCSS.RI.5.5

CCSS.RI.6.5

CCSS.RI.7.5

Front

What is an expense?

Back

An expense is any cost incurred in the process of purchasing goods or services.

Front

What is income?

Back

Income is the money received, typically on a regular basis, for work or through investments.

Tags

CCSS.RI.4.3

CCSS.RI.5.3

CCSS.RI.5.5

CCSS.RI.6.3

CCSS.RI.6.5

Front

What is a bank?

Back

A bank is a financial institution that accepts deposits from the public and provides loans.

Tags

CCSS.L.2.4E

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

Front

What is interest?

Back

Interest is the cost of borrowing money or the earnings from saving or investing money.

Front

What is a savings account?

Back

A savings account is a bank account that earns interest on the money deposited.

Front

What is a loan?

Back

A loan is a sum of money borrowed that is expected to be paid back with interest.

Tags

CCSS.RI.3.5

CCSS.RI.4.5

CCSS.RI.5.5

CCSS.RI.6.5

CCSS.RI.7.5