Topic 16 Financial Literacy Voc

Money earned for work people do

• income

• goods

• credit

• interest

Paying money for goods such as food and clothes or services such as a haircut

• income

• spending

• savings

• debt

Physical objects such as clothes or shoes

• goods

• services

• planned spending

• unplanned spending

Work that is performed for someone

• goods

• services

• spending

• saving

Paying for money for goods and services you expect

• unplanned spending

• planned spending

• saving

• credit

Paying for goods and services you DON'T expect

• savings

• credit

• planned spending

• unplanned spending

When you buy something now and pay for it later (usually with interest)

• credit

• debit

• spending

• planned spending

Money you pay when you borrow money, or money you receive for lending money

• interest

• credit

• resources

• charity

Putting money aside for the future

• credit

• debt

• charity

• saving

Things used to produce goods and service

• resources

• income

• spending

• credit