Financial Literacy Terms

Long term plan on how you are going to use your money (kind of like a long term budget)

• Personal Money Management Plan

• Short Term Financial Strategy

• Immediate Spending Guide

• Casual Expense Tracker

Fixed amount of money earned per day, month, or year in exchange for your physical or mental labor

• Wage

• Salary

• Commission

• Bonus

A yearly rate that determines how much interest you will pay for loans

• Interest Rate

• Loan Fee

• Principal Amount

• Credit Score

A fee paid when you pay a bill after the due date

• Late Fee

• Service Charge

• Overdraft Fee

• Processing Fee

Fancy word for putting money somewhere in your budget

• Distribution

• Allocation

• Expenditure

• Investment

Allowing others to use your money in return for giving you interest

• Saving

• Lending

• Investing

• Donating

Money put away to be used later

• Savings

• Investments

• Expenses

• Debt

The amount of money you earn. This can come from a job or investments. It is limited.

• Revenue

• Income

• Profit

• Earnings

Money earned per hour in exchange for your physical or mental labor

• Salary

• Wage

• Commission

• Bonus

Fee paid for the use of borrowed money

• Principal

• Interest

• Dividend

• Fee