Personal Financial Literacy

Front

What is Simple Interest?

Back

Interest that is calculated only on the principal, or original, amount of a loan.

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What are Assets?

Back

Property owned by a person or company that has value.

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What is a Rebate?

Back

An amount paid by way of reduction, return, or refund on what has already been paid or contributed.

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What is a Coupon?

Back

A voucher entitling the holder to a discount for a particular product.

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What are Liabilities?

Back

Debts or obligations that a person or company owes to others.

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What is Depreciation?

Back

The reduction in the value of an asset over time, often due to wear and tear.

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What is a Budget?

Back

A plan that outlines expected income and expenses over a specific period.

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What is Savings?

Back

Money that is not spent and is set aside for future use.

Front

What is Compound Interest?

Back

Interest calculated on the initial principal and also on the accumulated interest from previous periods.

Front

What is Financial Literacy?

Back

The ability to understand and effectively use various financial skills, including personal financial management.