What is borrowing money?
Financial Literacy 3rd Grade

Flashcard
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Mathematics
•
3rd Grade
•
Hard
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1.
FLASHCARD QUESTION
Front
Back
Borrowing money means taking money from someone with the promise to pay it back later.
2.
FLASHCARD QUESTION
Front
What does interest mean in borrowing?
Back
Interest is the extra money you pay back when you borrow money, in addition to the amount you borrowed.
3.
FLASHCARD QUESTION
Front
What happens to prices when there are fewer items available?
Back
When there are fewer items available, the price usually increases because people want to buy them.
4.
FLASHCARD QUESTION
Front
What is a salary?
Back
A salary is the amount of money a person is paid for their work, usually on a regular basis.
5.
FLASHCARD QUESTION
Front
What factors can affect how much someone is paid?
Back
Factors include work experience, education level, and special skills.
6.
FLASHCARD QUESTION
Front
What is saving money?
Back
Saving money means keeping some of your money instead of spending it all.
7.
FLASHCARD QUESTION
Front
What is a budget?
Back
A budget is a plan for how to spend and save money.
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