Financial Literacy

Front

What is a budget?

Back

A plan for spending money

Front

What is the purpose of a budget?

Back

To track income and expenses

Front

What is savings?

Back

Money set aside for future use

Front

What is the recommended percentage of income to save?

Back

10%

Front

What is an emergency fund?

Back

Money saved for unexpected expenses

Front

What is an expense?

Back

Money spent on wants and needs

Front

What is active income?

Back

Income earned from a job

Front

What is the difference between gross income and net income?

Back

Gross income is before taxes, while net income is after taxes

Front

What is a credit score?

Back

A measure of your creditworthiness.

Front

What is the purpose of a credit card?

Back

To borrow money