Financial Literacy 3

Front

What is income?

Back

The money you earn by doing a job.

Front

What is labor?

Back

The work that a person does.

Front

What are skills?

Back

The things that someone learns to do well.

Front

How does labor affect income?

Back

The more labor someone does, the more income they will make.

Front

What is a job?

Back

A job is the work that a person does to earn money.

Front

What are expenses?

Back

Expenses are the bills and costs that a person has to pay.

Front

Why are skills important?

Back

Skills help a person do their job well and can lead to higher income.

Front

What is a paycheck?

Back

A paycheck is the money a person receives for their work.

Front

What does it mean to save money?

Back

To save money means to keep some of your income instead of spending it all.

Front

What is a budget?

Back

A budget is a plan for how to spend and save money.