2nd Grade Math Personal Finance Vocabulary

Front

What is a consumer?

Back

A consumer is someone that uses or buys something.

Front

What does it mean to borrow?

Back

When you borrow money or an item, it needs to be returned when you are done.

Front

Should you lend something to someone who lost it before?

Back

No, you should not lend it.

Front

What is spending?

Back

Spending is using money to buy something, like buying a new vase.

Front

What is responsible borrowing?

Back

Responsible borrowing means returning the item in good condition and informing the owner of any damage.

Front

What is irresponsible borrowing?

Back

Irresponsible borrowing means not taking care of the borrowed item or not informing the owner of any damage.

Front

What does it mean to save money?

Back

Saving money means keeping it for future use instead of spending it.

Front

What is the difference between saving and spending?

Back

Saving is keeping money for later, while spending is using money to buy things.

Front

What is a lender?

Back

A lender is someone who gives money or an item to someone else with the expectation that it will be returned.

Front

What is a loan?

Back

A loan is money that is borrowed and must be paid back.