Personal Financial Literacy

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What is a Debit Card?

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An identification card issued by a bank that allows a user to immediately use money from an account. It requires a personal identification number (PIN) for security.

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What are Assets?

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Property owned by a person or company that has value.

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What is a Coupon?

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A voucher entitling the holder to a discount for a particular product.

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What is Net Income?

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The amount that is left after taxes are deducted from total income.

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What is a Markdown?

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A reduction in price.

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What is a Credit Card?

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A card issued by a bank that allows the holder to borrow funds to pay for goods and services, with the agreement to pay back the borrowed amount plus interest.

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What is a Budget?

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A plan that outlines expected income and expenses over a specific period.

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What is Savings?

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Money that is set aside for future use, often kept in a bank account.

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What are Liabilities?

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Financial obligations or debts that a person or company owes to others.

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What is Compound Interest?

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Interest calculated on the initial principal and also on the accumulated interest from previous periods.