Personal Financial Literacy

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What is Personal Financial Literacy?

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Personal Financial Literacy is the ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing.

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What is a debit card?

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A debit card is a payment card that deducts money directly from a consumer's checking account to pay for a purchase.

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What is online banking?

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Online banking is a service that allows customers to conduct financial transactions via the internet.

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What is a check register?

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A check register is a record of all transactions in a checking account, including deposits, withdrawals, and the current balance.

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What is a deposit?

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A deposit is the act of placing money into a bank account.

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What is the purpose of insurance?

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Insurance is a financial product that provides protection against financial loss or risk.

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What is a credit report?

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A credit report is a detailed report of an individual's credit history, used by lenders to assess creditworthiness.

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What is a credit score?

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A credit score is a numerical representation of a person's creditworthiness, based on their credit history.

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What is the difference between income and expenses?

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Income is the money received, while expenses are the costs incurred in the process of living.

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What is budgeting?

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Budgeting is the process of creating a plan to spend your money, ensuring that you can cover your expenses and save for future goals.