Financial Literacy Vocabulary

Flashcard
•
Mathematics
•
4th Grade
•
Hard
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15 questions
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1.
FLASHCARD QUESTION
Front
What is a variable expense?
Back
A variable expense is a cost that can change from month to month, such as entertainment or groceries.
2.
FLASHCARD QUESTION
Front
What is a fixed expense?
Back
A fixed expense is a cost that does not change and is the same every month, like rent or a car payment.
3.
FLASHCARD QUESTION
Front
Give an example of a variable expense.
Back
A trip to the zoo.
4.
FLASHCARD QUESTION
Front
Give an example of a fixed expense.
Back
House rent or monthly payment.
5.
FLASHCARD QUESTION
Front
What is a financial institution?
Back
A financial institution is an organization that provides financial services, such as banks and credit unions.
6.
FLASHCARD QUESTION
Front
What services do financial institutions offer?
Back
They offer services like informing customers about their money, allowing withdrawals, and providing loans.
7.
FLASHCARD QUESTION
Front
Which of these is NOT offered by a financial institution?
Back
Telling customers how to spend their money.
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