Personal Financial Literacy

Front

What is a deposit?

Back

A deposit is when money is put into a bank account.

Front

What services do banks provide?

Back

Banks offer checking and savings accounts to their customers.

Front

What does spending mean?

Back

Spending is trading money for goods and services.

Front

What are expenses?

Back

Expenses are amounts of money spent.

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What is saving?

Back

Saving is putting money aside from current income to buy something in the future.

Front

What is a bank?

Back

A bank is a financial institution that accepts deposits and provides loans.

Front

What is a checking account?

Back

A checking account is a bank account that allows for deposits and withdrawals.

Front

What is a savings account?

Back

A savings account is a bank account that earns interest on the money deposited.

Front

What is interest?

Back

Interest is the money paid by a bank to a saver for keeping their money in the bank.

Front

What does it mean to budget?

Back

Budgeting means planning how to spend and save money.