Personal Finance Vocabulary

Front

Borrowing

Back

Using someone else’s money (like a bank) with a promise to pay it back later, often with extra money called interest.

Front

Budget

Back

A plan for how to spend and save your money.

Front

Credit

Back

The ability to borrow money and pay it back later. It often comes with interest (extra money you owe for borrowing).

Front

Debit

Back

Money taken out of your bank account when you buy something using a debit card.

Front

Debt

Back

Money that you owe to someone, usually because you borrowed it.

Front

Entrepreneurship

Back

Starting your own business to make money by selling goods or services.

Front

Expenses

Back

The things you spend money on, like food, clothes or bills.

Front

Income

Back

Money you earn or receive, like a job or gift.

Front

Investing

Back

Using money to try to make more money, like buying stocks or real estate.

Front

Needs

Back

Things you must have to live: food, clothes, shelter.