Financial Literacy Vocab

__________ is a record of any savings, investment, or money owed, often at a bank.

• account

• savings

• debt

• allowance

________ is money set aside to be used later or for emergencies, often stored in a bank savings account to grow by earing interest.

• Stock

• Savings

• Debt

• Account

When you _________ , you are using current money to try to make more money, with the understanding that risk is involved.

• Loan

• Budget

• Invest

• Account

________ is money owed to a person or institution, such as a bank.

• interest

• commission

• debt

• stock

Which of the following is a term for buying something now and paying for it later?

• Credit 

• Debit

• Speculation 

• Investment 

Having a budget, investing in the future, and staying out of debt are ways citizens ______________. (SS8E3)

• manage their money wisely

• influence government spending

• go bankrupt

• provide municipal revenue

Placing money in the stock market, a retirement account( IRA), or purchasing real estate so it can grow in value and be used later. (SS8E3)

• Budgeting

• Spending

• Investing

To lend money to a person or business in order to gain more money in return.

• supply

• investing

• interest

• budget

is money that is borrowed from a person or business (such as a bank) and expected to be paid back with interest.

• Commission

• Loan

• Savings

• Debt

An ____________ is money put into a business.

• Allowance

• Commission

• Investment

• Budget