Financial Literacy Flashcards

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Balanced Budget

Back

When your expenses equal your income

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Borrow

Back

To get money or other goods from a bank or person that will have to be paid back or returned

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Budget

Back

A plan for how money will be spent

Front

Expense

Back

Money spent on a good or service

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Deposit

Back

To add money to an account

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Fixed Expense

Back

An expense that is the same amount each month

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Interest

Back

A charge that is paid to a lender in return for borrowing money

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Income

Back

Money earned

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Ledger

Back

A record of all income and expenses

Front

Withdraw

Back

To take money out of an account