Financial Literacy

Front

What is a transaction?

Back

A transaction is an action of depositing or withdrawing money from a financial account.

Front

What is a debit card?

Back

A debit card is a plastic payment card linked to a financial account, used for transactions.

Front

What does it mean to deposit money?

Back

To deposit money means to put money into a bank account.

Tags

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

CCSS.RI.9-10.4

Front

What is a bank balance?

Back

A bank balance is the amount of money available in a bank account at a given time.

Tags

CCSS.6.NS.C.5

Front

What is the purpose of a checking account?

Back

A checking account is used for everyday transactions, allowing deposits and withdrawals.

Front

What is the difference between a debit card and a credit card?

Back

A debit card withdraws money directly from your bank account, while a credit card allows you to borrow money up to a certain limit.

Tags

CCSS.RI.6.3

CCSS.RI.6.5

CCSS.RI.7.3

CCSS.RI.7.5

CCSS.RI.8.3

Front

What is interest?

Back

Interest is the cost of borrowing money or the earnings from saving money, usually expressed as a percentage.

Tags

CCSS.7.RP.A.3

Front

What is a savings account?

Back

A savings account is a bank account that earns interest on the money deposited.

Front

What does it mean to withdraw money?

Back

To withdraw money means to take money out of a bank account.

Tags

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

CCSS.RI.8.4

Front

What is a financial institution?

Back

A financial institution is an organization that provides financial services, such as banks and credit unions.