Personal Financial Literacy

Front

What are expenses that do not occur on a regular basis?

Back

Variable expenses are costs that can change from month to month, such as entertainment or groceries.

Front

What is the amount of money you have in your bank account called?

Back

The balance is the total amount of money available in your bank account.

Front

What do we call money earned or received?

Back

Income is the money that you earn from work or receive from other sources.

Front

What is it called when you trade money for goods and services?

Back

Spending is the act of using money to buy things.

Front

What do we call it when money is put into an account?

Back

A deposit is when you add money to your bank account.

Front

What are regular expenses that do not change from month to month?

Back

Fixed expenses are costs that remain the same, like rent or mortgage payments.

Front

What is the term for money that is taken out of your bank account?

Back

A withdrawal is when you take money out of your bank account.

Front

What is the difference between income and expenses?

Back

Income is money you earn, while expenses are money you spend.

Front

What is a budget?

Back

A budget is a plan that helps you manage your money by tracking income and expenses.

Front

What is saving?

Back

Saving is setting aside money for future use instead of spending it now.