Financial Literacy Vocab

Front

What is the term for money that you make?

Back

Income

Front

What do you call the money you receive before deductions?

Back

Gross Income

Front

What is a card that allows you to withdraw funds electronically?

Back

Debit Card

Front

Which payment method may require you to pay interest?

Back

Credit Card

Front

What is the term for something that you pay?

Back

Expense

Front

What is the term for money you earn after deductions?

Back

Net Income

Front

What is a financial plan that outlines expected income and expenses?

Back

Budget

Front

What do you call money set aside for future use?

Back

Savings

Front

What is the term for the total amount of money earned before any deductions?

Back

Gross Income

Front

What is the difference between fixed and variable expenses?

Back

Fixed expenses remain the same each month, while variable expenses can change.