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Financial Literacy Vocab
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To give money for something you want or need
Buying
When you take too long to pay off a loan you go into
Debt
The money spent on emergencies.
Unexpected Expenses
a mandatory payment or charge collected by the government.
Taxes
An account that you set aside money for emergencies and can earn interest on
Savings Account
Spending plan based on your income and expenses.
Budget
The money spent on something.
Expenses
When you use a Credit Card banks charge you extra money. What is this called?
Interest
Money you receive for working
Income
Putting your money into an ATM/ your bank account.
Deposit
When a store takes a percentage off the price.
Discount
A piece of paper or scan code that provides a discount for the user.
Coupons
Taking out money from an ATM/your bank account
Withdrawal
A type of card you can pay but you have to pay right now.
Debit Card
A type of card you can pay with but can pay back later.
Credit Card
When a person takes money from someone and plans to pay them back later.
Borrowing
When a person gives money to an organization that does something good for the world.
Charitable Giving
Items that are produced and bought.
Goods
A job that is done to help another person. It is not something that can be bought at a store but is an action done by another person.
Service
A person or business who makes goods or provides a service to others.
Producers


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