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Financial Literacy Vocab
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A person or business who makes goods or provides a service to others.
Producers
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When you take too long to pay off a loan you go into
Debt
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A type of card you can pay but you have to pay right now.
Debit Card
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Spending plan based on your income and expenses.
Budget
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To give money for something you want or need
Buying
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Money you receive for working
Income
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A piece of paper or scan code that provides a discount for the user.
Coupons
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An account that you set aside money for emergencies and can earn interest on
Savings Account
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A type of card you can pay with but can pay back later.
Credit Card
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The money spent on emergencies.
Unexpected Expenses
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When you use a Credit Card banks charge you extra money. What is this called?
Interest
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When a store takes a percentage off the price.
Discount
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The money spent on something.
Expenses
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Putting your money into an ATM/ your bank account.
Deposit
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When a person gives money to an organization that does something good for the world.
Charitable Giving
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Taking out money from an ATM/your bank account
Withdrawal
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a mandatory payment or charge collected by the government.
Taxes
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When a person takes money from someone and plans to pay them back later.
Borrowing
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Items that are produced and bought.
Goods
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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
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