Financial Literacy Vocabulary

A record or statement of financial expenditures or receipts, often related to a bank or credit union.

• Accounts

• Balance

• Budget

• Cash

An amount available or owed on an account.

• Accounts

• Balance

• Budget

• Cash

Deciding how to spend your money before you actually spend it.

• Account

• Balance

• Budget

• Cash

The physical form of money, such as coins or paper money.

• Balance

• Budget

• Cash

• Copay

A bank account that allows quick access to money for everyday expenses.

• Checking Account

• Savings Account

• Debit Card

• Credit Card

The time it takes for money to move from one account to another (e.g. from checking to cash, or from one checking account to another).

• Overhauling

• Over ride

• Clearing

• Balance out

The amount you pay to a healthcare provider before your insurance takes the claim, usually paid before you receive a service.

• Receipt

• Medical Statement

• Doctor Check

• Copay

Obtaining something you want with the understanding you'll pay for it later.

• Credit

• Debit

An amount removed from your bank account to pay for something.

• Credit

• Debit

The amount you owe on a loan.

• Loan

• Borrower

• Lender

• Debt