Financial Literacy Vocabulary Flashcard

Front

What does it mean to spend money?

Back

To pay money for goods and services.

Front

What does it mean to save money?

Back

To put money aside to use in the future.

Front

What is credit?

Back

A way to buy something and pay for it later.

Front

What does it mean to earn money?

Back

To receive payment for work done.

Front

What is demand?

Back

How many people want to buy something.

Front

What is supply?

Back

The amount of goods available for sale.

Front

What is interest?

Back

The extra money paid when borrowing money.

Front

What does it mean to borrow money?

Back

To take money from someone with the promise to pay it back later.

Front

What is income?

Back

Money received for work or investments.

Front

What is a budget?

Back

A plan for how to spend and save money.