Financial Literacy 3rd Grade TEKS

What is the work people do for money?

• Labor

• Leisure

• Hobby

• Charity

What is the cost of using someone else's money?

• Principal

• Interest

• Equity

• Dividend

What do we call the amount of money you owe to someone?

• Credit

• Debt

• Loan

• Mortgage

What do we call it when you take money out of your bank account?

• Deposit

• Withdrawal

• Transfer

• Balance Inquiry

What is it called when you buy something using borrowed money?

• Credit Spending

• Cash Purchase

• Debit Transaction

• Loan Acquisition

What is a financial goal?

• A target amount of money you want to save or earn.

• A type of investment strategy.

• A method for budgeting expenses.

• A plan to reduce debt over time.

What is it called when you put money into your bank account?

• Withdrawal

• Transfer

• Deposit

• Loan

What is interest earned on savings?

• Money paid to you by the bank for keeping your money there.

• A fee charged by the bank for account maintenance.

• The amount you pay to borrow money from the bank.

• A bonus given for opening a new savings account.

What is the difference between needs and wants?

• Needs are things we desire but can live without.

• Wants are essential for living, needs are things we desire.

• Needs are essential for living, wants are things we desire but can live without.

• Wants are things we need to survive.

What is a plan for how to spend your money?

• Budget

• Savings Plan

• Investment Strategy

• Expense Report