What is Financial Literacy?
QC: Financial Literacy

Flashcard
•
Mathematics
•
7th Grade
•
Hard
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15 questions
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1.
FLASHCARD QUESTION
Front
Back
Financial Literacy is the ability to understand and effectively use various financial skills, including personal financial management, budgeting, and investing.
2.
FLASHCARD QUESTION
Front
What is a Budget?
Back
A budget is a plan that outlines expected income and expenses over a specific period, helping individuals manage their finances.
3.
FLASHCARD QUESTION
Front
What does it mean to Save Money?
Back
Saving money means setting aside a portion of income for future use, often in a savings account or investment.
4.
FLASHCARD QUESTION
Front
What is Interest?
Back
Interest is the cost of borrowing money or the return on investment earned on savings, usually expressed as a percentage.
5.
FLASHCARD QUESTION
Front
What is a Bank?
Back
A bank is a financial institution that accepts deposits from the public, provides loans, and offers other financial services.
6.
FLASHCARD QUESTION
Front
What is a Credit Score?
Back
A credit score is a numerical representation of a person's creditworthiness, based on their credit history.
7.
FLASHCARD QUESTION
Front
What is Debt?
Back
Debt is money that is borrowed and must be repaid, often with interest.
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