Financial Literacy Vocabulary

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Budget

Back

A spending plan based on income and expenses for a specific period.

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Transaction

Back

An instance of buying or selling something

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Interest

Back

The cost of borrowing money, typically expressed as a percentage

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Credit

Back

Money that a bank or business will allow a person to use and then pay back in the future

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Income

Back

The amount of money received by a person, group, or company during a specific time.

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Bank

Back

A financial institution that accepts deposits from the public and gives out loans.

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Deposit

Back

A transaction involving a money transfer for safekeeping or saving.

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Expenses

Back

A cost or charge

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Salary

Back

A fixed annual payment paid for work; usually paid monthly or bi-weekly

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Savings

Back

The amount of money someone sets aside not to spend.