Financial Literacy Flashcards

Front

A plan that outlines expected income and expenses over a specific period, helping you control spending and save money.

Back

Budget

Front

The money you receive regularly, such as from a job, business, or investments.

Back

Income

Front

Money spent on goods, services, or bills like rent, food, or transportation.

Back

Expense

Front

The portion of income not spent and set aside for future use or emergencies.

Back

Savings

Front

A reserve of money saved to cover unexpected expenses like medical bills or car repairs.

Back

Emergency Fund

Front

Money you owe to others, such as loans, credit cards, or mortgages.

Back

Debt

Front

A number that reflects your creditworthiness based on how reliably you repay borrowed money.

Back

Credit Score

Front

The cost of borrowing money or the earnings from saving/investing money, usually expressed as a percentage.

Back

Interest

Front

Putting money into assets (like stocks, bonds, or property) with the goal of earning a return.

Back

Investment

Front

The total value of what you own (assets) minus what you owe (liabilities).

Back

Net Worth