Financial Literacy Vocabulary

a plan to regularly put aside money for a specific purpose

• expense
• savings plan
• human capital
• supply

Tags

CCSS.RI.3.10

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

a bank account that allows for a customer to deposit and withdraw money and earn interest from the bank

• savings account
• bank

• credit union

• scarcity

a requirement; something necessary for life, such as food, water, shelter, and clothing

• opportunity cost
• wants
• scarcity
• needs

Tags

CCSS.L.2.4E

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

goods or services that a person may desire, but that are not essential for life, such as toys, games, or candy

• opportunity cost
• wants
• scarcity
• needs

Tags

CCSS.RI.3.10

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

items produced for sale

• wants
• goods
• services
• needs

Tags

CCSS.RI.3.10

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4

activities performed by people or businesses that satisfy other people’s needs/wants

• needs
• goods
• services
• wants

Tags

CCSS.L.2.4E

CCSS.L.3.4D

CCSS.L.6.4C

CCSS.L.7.4C

CCSS.L.8.4C

to use money or other resources to pay for goods or services

• spend
• save
• earn
• wage

Tags

CCSS.RI.3.4

CCSS.RI.4.4

CCSS.RI.5.4

CCSS.W.4.2D

CCSS.W.5.2D

the money received for doing a job or investment

• savings
• cost
• labor
• income

a set payment (agreed upon amount) that a person receives in exchange for work performed

• expense
• profit
• salary
• supply

a regular payment, usually hourly or weekly, paid to a worker by an employer

• spending
• supply
• wage
• expense

Tags

CCSS.RI.3.10

CCSS.RI.4.10

CCSS.RI.5.10

CCSS.RI.6.4

CCSS.RI.7.4