Financial Literacy

What are taxes?

• A fee received or paid for the use of money

• Required payments to the government

• A legal process that gives a debtor protection from creditors

• Goods or services that people cannot survive without, such as water, food, shelter, and clothing

  
  

What is risk?

• A legal process that gives a debtor protection from creditors

• A not-for-profit cooperative that offers bank services and is owned by its members

  
  

• Required payments to the government

• The possibility of financial loss or physical harm

What is interest?

• Money that is spent on goods, services, and bills

• A fee received or paid for the use of money

• Money owed

• Goods or services that people cannot survive without, such as water, food, shelter, and clothing

  
  

What is a credit union?

• A grouping of jobs and industries related by skills or products

• A for-profit institution that offers personal loans, mortgages, and other services

  
  

• Money that is spent on goods, services, and bills

• A not-for-profit cooperative that offers bank services and is owned by its members

  
  

What is debt?

• Money owed

• Money that is spent on goods, services, and bills

•  A fee received or paid for the use of money

• Required payments to the government

What are needs?

• Required payments to the government

• Goods or services that make people more comfortable or content but which are not necessary for survival

  
  

• A fee received or paid for the use of money

• Goods or services that people cannot survive without, such as water, food, shelter, and clothing

  
  

What is a bank?

• A for-profit institution that offers personal loans, mortgages, and other services

  
  

• A not-for-profit cooperative that offers bank services and is owned by its members

  
  

• Goods or services that make people more comfortable or content but which are not necessary for survival

  
  

• Goods or services that people cannot survive without, such as water, food, shelter, and clothing

  
  

What is bankruptcy?

• A fee received or paid for the use of money

• Required payments to the government

• A legal process that gives a debtor protection from creditors

• The possibility of financial loss or physical harm

What does it mean to invest?

• Money that is spent on goods, services, and bills

• A legal process that gives a debtor protection from creditors

• To commit money to gain a profit or earn interest

•  A grouping of jobs and industries related by skills or products

What are wants?

• Money that is spent on goods, services, and bills

• Goods or services that people cannot survive without, such as water, food, shelter, and clothing

  
  

• A legal process that gives a debtor protection from creditors

• Goods or services that make people more comfortable or content but which are not necessary for survival