Financial Literacy 3rd Grade

Front

What is borrowing money?

Back

Borrowing money means taking money from someone with the promise to pay it back later.

Front

What does interest mean in borrowing?

Back

Interest is the extra money you pay back when you borrow money, in addition to the amount you borrowed.

Front

What happens to prices when there are fewer items available?

Back

When there are fewer items available, the price usually increases because people want to buy them.

Front

What is a salary?

Back

A salary is the amount of money a person is paid for their work, usually on a regular basis.

Front

What factors can affect how much someone is paid?

Back

Factors include work experience, education level, and special skills.

Front

What is saving money?

Back

Saving money means keeping some of your money instead of spending it all.

Front

What is a budget?

Back

A budget is a plan for how to spend and save money.

Front

What does it mean to spend money?

Back

Spending money means using your money to buy goods or services.

Front

What is a piggy bank?

Back

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

Front

What is the purpose of a bank?

Back

A bank is a place where people can keep their money safe and also borrow money.