Personal Financial Literacy

Front

What is borrowing?

Back

Borrowing is when you take something from someone with the promise to return it later.

Front

What is spending?

Back

Spending is using money to buy goods or services.

Front

Who is a consumer?

Back

A consumer is a person who buys and uses goods or services.

Front

What is responsible borrowing?

Back

Responsible borrowing means taking something and returning it as promised.

Front

What is irresponsible borrowing?

Back

Irresponsible borrowing means not returning what you borrowed or not following the agreement.

Front

What does it mean to save money?

Back

Saving money means keeping money aside for future use instead of spending it.

Front

What is a piggy bank?

Back

A piggy bank is a container used to save coins and money.

Front

What is a bank withdrawal?

Back

A bank withdrawal is taking money out of your bank account.

Front

What is a bank deposit?

Back

A bank deposit is putting money into your bank account.

Front

What is a producer?

Back

A producer is a person or business that makes goods or provides services.