Financial Literacy Vocabulary

Front

Which is an example of Income?

Back

Paycheck

Front

The Total amount of money in an account.

Back

Account Balance

Front

Taking money out of an account

Back

Withdrawal

Front

A Mortgage is a loan for a ____________?

Back

house

Front

An Asset is something you _______ or have.

Back

own

Front

What is a budget?

Back

A plan for managing income and expenses.

Front

What does it mean to invest?

Back

To put money into something with the expectation of earning a profit.

Front

What is a loan?

Back

Money borrowed that must be paid back with interest.

Front

What is interest?

Back

The cost of borrowing money, usually expressed as a percentage.

Front

What is a savings account?

Back

A bank account that earns interest on deposits.