Financial Literacy Vocabulary

Front

Savings

Back

Money placed in a bank account that is not intended to be spent immediately

Tags

CCSS.L.2.4E

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

Front

What is a credit report?

Back

A document that provides detailed information about all debts and financial history

Tags

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

Front

Lenders use this to decide if someone is eligible for a loan. Options: credit report, bank statement, check register, withdraw

Back

credit report

Front

What is interest?

Back

money that is paid for borrowing someone else's money

Front

What is a deposit?

Back

a sum of money that is placed or kept in a bank account

Tags

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

Front

What is the act of taking money out of an account called?

Back

Withdrawal

Tags

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

Front

A plastic card that allows users to make purchases and then the money is automatically deducted from the owners' financial account is called what?

Back

debit card

Tags

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

Front

A transaction in which a sum of money is put into a bank account is called a

Back

deposit

Tags

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

Front

Money or something that is borrowed and must be given back after a period of time

Back

Loan

Tags

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

CCSS.L.9-10.4C

Front

Moving money between accounts such as moving money from your savings to your checking account

Back

transfer