Financial Literacy Basics

Borrow

• Receive money temporarily

• Give money permanently

• Invest money for profit

• Lend money to a friend

Budget

• Plan for income and expenses

• A type of investment

• A financial statement

• A method of saving money

Loan

• Borrowed money to be repaid

• A type of investment

• A form of savings account

• A government grant

Lend

• Give money temporarily

• Borrow money permanently

• Invest money in stocks

• Donate money to charity

Cost

• Price of something

• Amount spent on production

• Value of an asset

• Expense incurred during a transaction

Earn

• Receive money for work

• Spend money on leisure activities

• Invest in stocks and bonds

• Donate money to charity

Pay Back

• Return borrowed money

• Give a gift

• Make a donation

• Invest in stocks

Purchase

• Buy something

• Sell something

• Exchange an item

• Borrow an item

Afford

• Have enough money for

• Be able to pay for something

• Be in a financial position to buy

• Have sufficient funds for

Donate

• Give money to charity

• Take money from charity

• Invest money in stocks

• Spend money on personal items