Personal Financial Literacy - Vocabulary

Front

What is a Savings Account?

Back

A bank account in which the money deposited earns interest, allowing for more money in the future than originally deposited.

Tags

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

Front

What is a Bank?

Back

A business where people deposit and withdraw their money and borrow money.

Front

What is Available Balance?

Back

The amount of money available in an account for a person, business, or organization to spend.

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 Withdrawal?

Back

Money taken OUT of an account.

Front

What is a Transfer?

Back

Money moved from one account to another account.

Front

What is a Deposit?

Back

Money added INTO an account.

Tags

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

Front

What is Interest?

Back

The money earned on a savings account or paid on a loan, usually expressed as a percentage.

Tags

CCSS.7.RP.A.3

Front

What is a Debit Card?

Back

A card that allows you to withdraw money directly from your bank account.

Tags

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

Front

What is a Credit Card?

Back

A card that allows you to borrow money from a bank to make purchases, which you must pay back later.

Tags

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

Front

What is a Loan?

Back

Money borrowed that must 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