AVID Financial Literacy

Front

What are the benefits of using credit cards?

Back

Benefits of credit cards include: safe and convenient transactions, bonuses offered, the ability to build a positive credit report, and they are needed for reservations and online shopping.

Front

What is a plastic payment card linked to a financial account used for transactions?

Back

Debit Card.

Front

What does it mean to deposit money into an account?

Back

To put money into an account.

Front

What is the opposite of depositing money?

Back

Withdrawing money.

Front

What is a financial account that allows you to save money and earn interest?

Back

Savings Account.

Front

What is a financial account used primarily for daily transactions?

Back

Checking Account.

Front

What is the term for the amount of money you owe on a credit card?

Back

Credit Card Balance.

Front

What is the purpose of a budget?

Back

To plan and track income and expenses.

Front

What is interest in terms of finance?

Back

The cost of borrowing money or the earnings from saving money.

Front

What is a financial institution that accepts deposits and provides loans?

Back

Bank.