6th Grade Financial Literacy Vocabulary

Front

What is the starting balance on a check register?

Back

The initial amount of money available in a check register before any transactions are made.

Tags

CCSS.7.NS.A.1A

Front

What are scholarships and grants?

Back

Financial aid that does not have to be paid back.

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 budget?

Back

A plan for how you spend your money.

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 credit score?

Back

A numerical representation of a person's creditworthiness, used by lenders to evaluate the risk of lending money.

Tags

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.9-10.4

Front

What is a debit card?

Back

A card that allows you to access your bank account to make purchases or withdraw cash.

Tags

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

Front

What is the difference between a loan and a grant?

Back

A loan must be paid back with interest, while a grant does not have to be repaid.

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 interest?

Back

The cost of borrowing money, usually expressed as a percentage of the amount borrowed.

Tags

CCSS.7.RP.A.3

Front

What is a checking account?

Back

A bank account that allows for deposits and withdrawals, typically used for everyday transactions.

Front

What is a savings account?

Back

A bank account that earns interest on the money deposited, used for saving money.

Front

What is an ATM?

Back

Automated Teller Machine, a machine that allows you to withdraw cash or check your account balance.

Tags

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4