WorksheetsBasic Financial Literacy Terms
Total questions: 13
Worksheet time: 7mins
Transfer Payments
A one-way payment of money for which no service or good is exchanged.
A payment made in exchange for goods or services.
A payment that requires a return service or good.
A payment made to support a specific project or initiative.
Fixed Income
The same amount of money is earned at set intervals, such as monthly or quarterly.
Income that varies based on market conditions.
Income that is only earned annually.
Income that is dependent on the performance of stocks.
Withdrawals
Moving money from an account to pay expenses, transfer to other accounts, withdraw cash from an ATM, or make purchases.
Depositing money into an account for future use.
Transferring funds between different currencies.
Investing money in stocks or bonds.
Capital Gain
Profit made from an investment.
Loss incurred from an investment.
Revenue generated from sales.
Interest earned on savings.
Itemization
A general overview of a topic.
A specific listing of individual pieces or units of information.
A summary of key points.
A detailed explanation of a concept.
Variable Income
The amount of money earned is the same each pay period.
The amount of money earned is not the same each pay period.
The amount of money earned is guaranteed to increase every pay period.
The amount of money earned is fixed regardless of hours worked.
Take-home Pay
The total amount earned before any deductions.
The amount of a paycheck one gets to keep after taxes and other deductions are taken out.
The amount deducted for retirement savings.
The gross income before taxes are applied.
Opening Balance
The balance of an account on the current month’s statement, which was used as the ending or closing balance in the previous month’s statement.
The total amount of money that a business has at the beginning of the fiscal year.
The amount of money that is available for withdrawal at any given time.
The difference between total assets and total liabilities at the end of the month.
Checkbook Register
Log of deposits and withdrawals from a checking account.
A record of all credit card transactions.
A summary of monthly bank statements.
A list of all outstanding checks.
Fixed Expense
A bill that varies each month.
A one-time payment for a service.
A bill, such as monthly rent, that is the same each month.
An expense that is not necessary.
Variable Expense
A fixed cost that remains the same each month.
A bill, such as a utility bill, that has a different amount each month.
An expense that is always paid in cash.
A one-time payment for a service or product.
Interest
Money paid at a rate for money that is loaned out
A fee charged for using a credit card
The amount of money saved in a bank account
A tax imposed on financial transactions
For-Profit
A business or institution initiated or operated for the purpose of making a profit.
A non-profit organization that focuses on community service.
A government entity that provides public services without profit motives.
A cooperative that shares profits among its members.
