Personal Financial Literacy

Front

What is a loan?

Back

Money borrowed based on certain conditions, usually paid back with interest.

Front

What does saving mean?

Back

Money kept safe in an account at a financial institution from current income to buy something in the future.

Front

What is a piggy bank?

Back

A place where money is saved and only you know about.

Front

What is profit?

Back

The amount of money left after subtracting taxes and expenses from income.

Front

What are variable expenses?

Back

Expenses that do not occur on a regular basis or do not stay the same.

Front

What is a fixed expense?

Back

An expense that occurs regularly and stays the same, like rent or a subscription.

Front

What is a financial institution?

Back

An organization that provides financial services, such as banks and credit unions.

Front

What is a deposit?

Back

Money placed into a bank account.

Front

What is a withdrawal?

Back

Money taken out of a bank account.

Front

What is a budget?

Back

A plan for how to spend and save money.