Financial Literacy 5th Grade

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What is financial literacy?

Back

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 budget?

Back

A budget is a plan that outlines expected income and expenses over a specific period, helping individuals manage their money.

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Why is saving money important?

Back

Saving money is important because it helps individuals prepare for emergencies, achieve financial goals, and secure their future.

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What is an expense?

Back

An expense is any cost incurred in the process of earning income or maintaining a lifestyle, such as bills, groceries, and entertainment.

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What does it mean to invest?

Back

To invest means to allocate money into assets or ventures with the expectation of generating a profit or income over time.

Tags

CCSS.RI.3.5

CCSS.RI.4.5

CCSS.RI.5.5

CCSS.RI.6.5

CCSS.RI.7.5

Front

What is interest?

Back

Interest is the cost of borrowing money or the earnings from saving or investing money, usually expressed as a percentage.

Tags

CCSS.7.RP.A.3

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What is a bank?

Back

A bank is a financial institution that accepts deposits, offers loans, and provides various financial services to individuals and businesses.

Tags

CCSS.RI.4.5

CCSS.RI.5.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

Front

What is a savings account?

Back

A savings account is a type of bank account that allows individuals to deposit money, earn interest, and withdraw funds while keeping their savings safe.

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What is a loan?

Back

A loan is a sum of money borrowed from a lender that must be repaid with interest over a specified period.

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What is a credit card?

Back

A credit card is a payment card that allows individuals to borrow funds from a pre-approved limit to make purchases, which must be paid back later.