Personal Financial Literacy

 Work humans do, both physical and mental, used in the production of goods and services.

• capital resource
• human resource
• natural resource
• jobs

Resources that come from nature. They are used to produced goods and services. Examples: air, water, coal, petroleum, wind, etc.

• human resources
• goods
• natural resources
• services

It is used to make other goods and services. It includes tools, equipment and buildings. Any good used by a business to produce other goods and services.

• trucks
• capital resources
• natural resources
• equipment

To put money aside for future needs or wants.

• spending
• save
• borrow
• give

Tags

CCSS.7.RP.A.3

When you borrow money to buy something that costs more than you have.

• charge
• credit
• save
• interest

Things that are essential like shelter and food.

• groceries
• things
• wants
• needs

Tags

CCSS.RI.2.1

CCSS.RI.3.2

CCSS.RL.3.1

CCSS.RL.3.2

CCSS.RL.4.1

To use money for something you want or need.

• waste
• save
• spend
• borrow

Things we would like to have but do not need them to survive.

• money
• toys
• needs
• wants

Tags

CCSS.RI.2.1

CCSS.RI.3.2

CCSS.RL.2.2

CCSS.RL.3.1

CCSS.RL.3.2

Money you pay when you borrow money, beyond the amount borrowed.

• saving
• interest
• credit
• banks

This is when human wants or needs exceeds the resources that are available.

• needs
• scarcity
• resources