Financial Literacy

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What are the benefits of credit cards?

Back

Safe and convenient, bonuses are offered, allows you to build a positive credit report, needed for reservations and online shopping, all of these.

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What is credit?

Back

Goods, services, or money received in exchange for a promise to pay a definite sum of money at a future date.

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What does it mean to deposit money?

Back

To put money into an account.

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What is a late payment fee?

Back

Amount charged if your payment is received after the billing date.

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What is the balance of an account?

Back

The amount of money available in the account at a given time.

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What is a withdrawal?

Back

Taking money out of an account.

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What is interest?

Back

The cost of borrowing money, usually expressed as a percentage.

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What is a budget?

Back

A plan for managing income and expenses.

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What is a savings account?

Back

An account where you can deposit money and earn interest.

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What is a loan?

Back

Money borrowed that is expected to be paid back with interest.