Financial Literacy Vocabulary

What is Income?

• the amount you must pay to get something

• work

• money earned

• to get money or other goods that will have to be returned from a bank or a person

What is Cost?

• the amount you must pay to get something

• work

• money earned

• to get money or other goods that will have to be returned from a bank or a person

Tags

CCSS.L.2.4E

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

What is Labor?

• the amount you must pay to get something

• work

• money earned

• to get money or other goods that will have to be returned from a bank or a person

Tags

CCSS.L.2.4E

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

What is Borrowing?

• the amount you must pay to get something

• work

• money earned

• to get money or other goods that will have to be returned from a bank or a person

Tags

CCSS.L.5.5C

What is Human Capital?

• the knowledge, skills, and abilities of a person or group of people

• money that a bank allows a person to use; must be paid back to the bank in the future, with interest

• to give money or other goods, expecting it to be returned

• a charge that is paid to a lender in return for borrowing money

What is Interest?

• the knowledge, skills, and abilities of a person or group of people

• money that a bank allows a person to use; must be paid back to the bank in the future, with interest

• to give money or other goods, expecting it to be returned

• a charge that is paid to a lender in return for borrowing money

What is Lending?

• the knowledge, skills, and abilities of a person or group of people

• money that a bank allows a person to use; must be paid back to the bank in the future, with interest

• to give money or other goods, expecting it to be returned

• a charge that is paid to a lender in return for borrowing money

Tags

CCSS.RI.3.10

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

What is Lending?

• the knowledge, skills, and abilities of a person or group of people

• money that a bank allows a person to use; must be paid back to the bank in the future, with interest

• to give money or other goods, expecting it to be returned

• a charge that is paid to a lender in return for borrowing money

Tags

CCSS.L.4.6

CCSS.RI.3.4

CCSS.RI.4.4

CCSS.RI.5.4

CCSS.W.4.2D

What is Credit?

• the knowledge, skills, and abilities of a person or group of people

• money that a bank allows a person to use; must be paid back to the bank in the future, with interest

• to give money or other goods, expecting it to be returned

• a charge that is paid to a lender in return for borrowing money

Tags

CCSS.RI.3.10

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

What is a Charity?

• an organization that helps others in need

• using money in exchange for goods or service

• keeping money so it can be used later

Tags

CCSS.L.2.4E

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C