Financial Literacy Vocab

Which word best fits this definition a payment type that allows you to make purchases using money directly from your checking account

• Fixed Expense

• Unit Price

• Opportunity Cost

• Debit Card

Issued by bank or financial services company that allows cardholder to borrow funds pay for goods and services with merchants.

• Credit report

• savings account

• Debit card

• Credit card

the price you pay to borrow money or the cost you charge to lend money

• income

• savings

• credit card

• interest

Which vocab word means "money that you get/earn?"

• wage

• salary

• income

• budget

Which vocab word means "a plan for where your money will go?"

• wage

• salary

• income

• budget

Which vocab word means "money that you spend?"

• Expense

• Revenue

• Profit

Which vocab word means "money paid per hour?"

• wage

• salary

• income

• budget

Which term describes a financial plan that helps you manage your money, track your spending, and save for future goals?

• A) Investment

• B) Budget

• C) Credit

• D) Expense

What is the term for the amount of money you earn before any deductions are taken out?

• A) Net Income

• B) Gross Income

• C) Revenue

• D) Profit

Which term refers to the money you owe to others, such as loans or credit card balances?

• A) Asset

• B) Liability

• C) Equity

• D) Investment