Financial Literacy - 5th grade

Front

What is a disadvantage of using a credit card?

Back

You can spend more than you have.

Front

Why is it important to create a budget?

Back

To ensure you do not spend more money than you take in each month.

Front

What is sales tax?

Back

A tax added to the price of goods and services.

Front

When you make a withdrawal from your savings account, you __________ the amount of money in your account.

Back

subtract

Front

How should Mary pay to fix her car if she has $150 in her bank account and $24 in cash?

Back

Credit Card

Front

What is a budget?

Back

A plan that outlines how much money you will earn and spend.

Front

What does it mean to track your spending?

Back

To keep a record of how much money you spend.

Front

What is the purpose of a savings account?

Back

To save money for future use and earn interest.

Front

What is a credit card?

Back

A card that allows you to borrow money to make purchases.

Front

What is the difference between a debit card and a credit card?

Back

A debit card uses your own money, while a credit card allows you to borrow money.