Module 20-Financial Literacy Vocabulary

Money earned.

• Income

• Spending

• Credit

• Borrowing

Is the work that a person does.

• Need

• Human Capital

• Labor

• Interest

Persons knowledge and work skills.

• Credit

• Human Capital

• Savings Plan

• Income

Things that are produced and used.

• Want

• Borrowing

• Saving

• Resources

To obtain by paying money for an item or a service.

• Labor

• Credit

• Purchase

• Giving

Money to purchase something, you give it to someone else in exchange for something.

• Spending

• Need

• Human Capital

• Labor

Paying for something with money that is borrowed and must be paid back, usually with interest.

• Saving

• Borrowing

• Resources

• Credit

Money paid by the borrower to the lender for the use of the lender's money.

• Interest

• Credit

• Borrowing

• Giving

Item required because it is essential or very important.

• Want

• Need

• Credit

• Labor

Item you would like to have but is not necessary at the time.

• Need

• Human Capital

• Want

• Income