Financial Literacy Flashcard

Front

What is an annual fee?

Back

A yearly payment charged by credit card companies

Front

Example of an asset: A grocery bill, A house, A monthly subscription, A utility payment

Back

A house

Front

Asset limit

Back

The total amount of countable resources you can have while eligible for government benefits

Front

What is an example of assistive technology (AT)?

Back

A wheelchair

Front

What does ATM stand for?

Back

Automated Teller Machine

Front

Authorize

Back

To give your permission

Front

Balance in financial terms

Back

The amount of money in your account or owed on a loan

Front

What is a "Balance Carried Forward" used for?

Back

To show the amount of money in your account at the start of a month

Front

Bank

Back

A for-profit financial institution providing services like checking accounts and loans

Front

What are "Benefits" in the context of government programs?

Back

Programs to help pay for basic needs like food and housing