Financial Literacy

Front

What is financial literacy?

Back

Financial literacy is the ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing.

Front

What is net pay?

Back

Net pay is the amount of money left over from your paycheck after taxes and deductions have been taken out.

Front

What is a surplus?

Back

A surplus is the amount of money left over each month after all expenses have been paid.

Front

What is an investment?

Back

An investment is anything purchased with the hope that it will generate income or increase in value over time.

Front

What does it mean to diversify investments?

Back

To diversify investments means to spread your investments across various assets to reduce risk.

Front

What is the importance of budgeting?

Back

Budgeting helps individuals plan their spending, save for future goals, and avoid debt.

Front

What is the difference between gross pay and net pay?

Back

Gross pay is the total amount earned before any deductions, while net pay is what you take home after deductions.

Front

What is compound interest?

Back

Compound interest is the interest on a loan or deposit calculated based on both the initial principal and the accumulated interest from previous periods.

Tags

CCSS.7.RP.A.3

Front

What is a loan?

Back

A loan is a sum of money borrowed that is expected to be paid back with interest.

Tags

CCSS.RI.11-12.5

CCSS.RI.6.5

CCSS.RI.7.5

CCSS.RI.8.5

CCSS.RI.9-10.5

Front

What is a credit score?

Back

A credit score is a numerical representation of a person's creditworthiness, based on their credit history.