Financial Literacy Vocabulary

Fixed Expense

• a cost that stays the same monthly.

• how much you're selling something for

• to put some money in your bank account

• how much you're selling something for

Savings

• the money you have kept for the future or for something you want or for future like a home

• A plan for your spending when your income is equal to your expenses.

• The extra money you have to pay back when you are borrowing.

• A plan for your spending when your income is equal to your expenses.

Variable Expense

• a cost that does not stay the same, it varies month to month, like the cost of things like gas
• a plan for your spending
• when you borrow money from someone and the loan is the money you pay back. You pay the amount you borrowed plus interest .
• a plan for your spending

Borrow

• getting a loan or getting something for a short period of time and then paying it back
• A piece of paper that you can pay large amounts of money with.
• paying for something
• A piece of paper that you can pay large amounts of money with.

Deposit

• to put some money in your bank account
• a card that is not connected to your money, but you borrow money from other people's money, after you borrow, you have to pay them back the money you borrowed, and sometimes pay a interest.
• taking money out of your account
• a card that is not connected to your money, but you borrow money from other people's money, after you borrow, you have to pay them back the money you borrowed, and sometimes pay a interest.

Interest

• The extra money you have to pay back when you are borrowing.
• a card that has connection to your money, you are not borrowing money; when you use a debit card to buy something, you need to have the cost of the item inside you account.
• how much money it takes to buy something
• a card that has connection to your money, you are not borrowing money; when you use a debit card to buy something, you need to have the cost of the item inside you account.

Lending/Loan

• when you borrow money from someone and the loan is the money you pay back. You pay the amount you borrowed plus interest .
• A payment that you do online
• a good or service that you have to pay for
• A payment that you do online

Spending/Spent

• paying for something
• A record of what, when, and how much you spent and your current balance
• the amount a person or a business makes after taking out expenses
• A record of what, when, and how much you spent and your current balance

Withdrawal

• taking money out of your account
• Money you have left after taxes
• how much you're selling something for
• Money you have left after taxes

Cost

• how much money it takes to buy something
• income is how much you get from something like a job, money as a gift, or winning the lottery
• A plan for your spending when your income is equal to your expenses.
• income is how much you get from something like a job, money as a gift, or winning the lottery