Understanding Financial Literacy

Front

Budget

Back

for saving and spending money

Front

Income

Back

received, like allowance or salary

Front

Expense

Back

spent on goods or services

Front

Savings

Back

set aside for future use

Front

Interest

Back

money earned or paid, usually as a percentage

Front

Bank account

Back

place to keep and manage money

Front

Needs vs. Wants

Back

(needs) vs. extras (wants)

Front

Credit

Back

money to be paid back later

Front

Debt

Back

owed to others

Front

Simple interest formula

Back

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