Financial Literacy

The amount of a paycheck that a person can actually spend; The actual amount of one's paycheck.

• net income

• gross income

• needs

• savings

Total income amount of income from wages or salary before payroll deductions.

• net income

• gross income

• wage

• wants

A deposit at a bank or savings and loan that pays interest, but cannot be withdrawn in check writing.

• checking account

• debit card

• credit card

• savings account

The amount paid for the use of borrowed money.

• coverage

• deposit

• interest

• asset

A plastic card that can be used by the holder to make purchases or obtain cash advances using a line of credit made available by the card-issuing financial institution.

• credit card

• debit card

• ATM card

• gift card

to put money into a bank or investment account

• withdraw

• payment

• deposit

• plan

Money that a person receives; such as a paycheck from a job, an allowance from parents (inheritance), or interest earned on a savings account.

• budget

• income

• expense

• garnishment

This card is used to withdraw money from a savings or checking account. When used for purchases, money is immediately withdrawn from your account.

• checking account

• ATM card

• debit card

• credit card

A sum of money given to an individual with the intent that it is to be repaid at some future date along with any agreed upon interest.

• loan

• monopoly

• net income

• opportunity cost

A transaction deposit account at a financial institution that that allows consumers to make deposit and withdrawals. This money is considered liquid, meaning it can be easily accessed. It can be withdrawn using checks, automated cash machines and electronic debits.

• charitable giving

• closing costs

• checking account

• collateral