Financial Literacy

Front

What is a fixed expense?

Back

A fixed expense is an expense that is paid every month for the same amount, such as a car payment or rent.

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What is a variable expense?

Back

A variable expense is an expense that can change from month to month, such as groceries or entertainment.

Front

What is the purpose of a bank?

Back

The purpose of a bank is to keep money safe and to lend money.

Front

Give an example of a fixed expense.

Back

An example of a fixed expense is a car payment.

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Give an example of a variable expense.

Back

An example of a variable expense is a shopping trip to the mall.

Front

Where can you save your money?

Back

You can save your money in a piggy bank, a savings account at the bank, or in stocks or investments.

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What is a savings account?

Back

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

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What does it mean to budget?

Back

To budget means to plan how to spend your money wisely.

Tags

CCSS.L.3.4D

CCSS.L.2.4E

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

Front

What is interest?

Back

Interest is the money paid to you by the bank for keeping your money in a savings account.

Tags

CCSS.7.RP.A.3

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What is a loan?

Back

A loan is money borrowed from a bank or other lender that must be paid back with interest.