Financial Literacy

Front

What is financial literacy?

Back

Financial literacy is the ability to understand and manage your money effectively.

Front

What does it mean to save money?

Back

Saving money means setting aside a portion of your income for future use instead of spending it all.

Front

What is a budget?

Back

A budget is a plan that helps you track your income and expenses to manage your money.

Front

Why is it important to save for a goal?

Back

Saving for a goal helps you reach your financial objectives, like buying a bike or going on a trip.

Front

What is a charity?

Back

A charity is an organization that helps people in need, often funded by donations.

Front

What does it mean to give to charity?

Back

Giving to charity means donating money or resources to help those who are less fortunate.

Front

What is demand in economics?

Back

Demand is how much of a product or service people want to buy.

Front

What is supply in economics?

Back

Supply is how much of a product or service is available for sale.

Front

What happens when demand is high and supply is low?

Back

When demand is high and supply is low, prices usually go up.

Front

What is interest?

Back

Interest is the extra money you pay when you borrow money or the money you earn on savings.