Financial Literacy-3rd Grade

Front

What is a loan?

Back

A loan is when you borrow money from a bank to buy something for which you do not have enough money. You have to pay back extra money called interest.

Tags

CCSS.RI.2.5

CCSS.RI.3.5

CCSS.RI.4.5

CCSS.RI.5.5

CCSS.RI.6.5

Front

What is interest?

Back

Interest is extra money you pay when you borrow money as a loan. It can also be money you receive for saving money in the bank.

Front

What does it mean to buy something on credit?

Back

Buying something on credit means you are borrowing money to make a purchase, and you will have to pay it back with interest.

Tags

CCSS.RI.2.1

CCSS.RI.5.2

CCSS.RL.3.1

CCSS.RL.5.2

CCSS.RL.6.2

Front

What are resources?

Back

Resources are things used to produce goods and services. Examples include trees, clean water, soil, oil, and gas.

Front

How do you calculate income?

Back

Income is the total money earned from work or services. For example, if you earn $56, $75, $44, and $67 in a week, your income is $242.

Tags

CCSS.7.EE.B.3

Front

What is spending?

Back

Spending is using money to buy goods and services.

Tags

CCSS.RI.4.2

CCSS.RL.5.1

CCSS.RL.5.2

CCSS.RL.6.1

CCSS.RL.6.2

Front

What is savings?

Back

Savings is money that you keep instead of spending it, often put in a bank.

Tags

CCSS.RI.2.5

CCSS.RI.3.5

CCSS.RI.4.5

CCSS.RI.5.5

CCSS.RI.6.5

Front

What is a bank?

Back

A bank is a place where you can keep your money safe, borrow money, and earn interest on your savings.

Tags

CCSS.RI.4.5

CCSS.RI.5.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

Front

What is a budget?

Back

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

Front

What does it mean to earn money?

Back

Earning money means receiving payment for work or services you provide.

Tags

CCSS.RI.2.5

CCSS.RI.3.5

CCSS.RI.4.5

CCSS.RI.5.5

CCSS.RI.6.5