Financial Literacy Flashcards


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created 1 year ago by C0NN0RT
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updated 1 year ago by C0NN0RT
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cyber foundations
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1

Bonds

Bond are agreements to lend money to companies or government.They agree to pay you back at a certain date, with higher interest than a savings account.

2

Borrow

To use something from someone else with the promise of returning it

3

Budget

A plan for using your money over a set period of time. It helps you keep track of what you earn,spend, and save

4

Career

A type of job you do for a long time and may require some education, training, or experience related to it

5

Cash

Money that is available and ready to use like bills and coins

6

Certificate of Deposit

a savings certificate that gains interest and has a set time before you can withdraw your money ( if you take your money out early, you will likely be charged a fee)

7

Charity

Giving resources or volunteering time to help those in need

8

Comparison Shopping

Finding out whether or not what you are about to buy can be found for a better price or in better shape at a different store

9

Compound Interest

Money that a financial institution pays you to borrow your money. It is calculated by multiplying the percent rate times your balance( or total amount in your account) plus any interest you have already earned

10

Credit

When you borrow money and promise to pay it back later

11

Credit history

A record of how you pay back the money you borrow

12

Debt

Money you have to pay back

13

Goal

Something you want to achieve.When you have a goal, then you can plan steps to achieve it.There are short-term, medium-term, and long- term goals that all take different amount of times to achieve

14

Gross income

The full amount you earned

15

Insurance

Helps you pay for emergencies. You pay little money at set times. Then, if you have an emergency, insurance will help you pay for it! You can get insurance for your home, your health, your car, and more

16

Interest (on an account)

Money that a financial institution pays you to borrow your money. It is calculated as a percentage of the amount of money you have in your account

17

Interest (for a job)

The topics or types of things that you enjoy learning about or spending your time doing.

18

Job

Work you do for money

19

Limited means

Not having enough money to buy everything you want

20

Need

Things you must have in order to survive like food, water shelter and safety

21

Net income

The amount you take home after paying taxes and anything else that gets taken out of your pay

22

Opportunity Cost

What you give up to get something else

23

Overtime

Working Extra Hours To Make Extra Money

24

Paycheck

It is Payday And Cece Just Received HerPaycheck. What Should She Do With The Money?

25

Prioritize

When You Put Things In Order Of How Much They Matter

26

Reliable

A quality that means that something or someone can be trusted to do what has been agreed upon

27

Risk

An activity or action that might be dangerous

28

Salary

Payment for a year's worth of work that is divided into equal portions that are payed to you with each paycheck

29

Savings Account

An account at a financial institution that gains interest and allows with withdraws

30

Simple interest

Money that a financial institution pays you to borrow your money. It is calculated by multiplying the percentage rate times your balance

31

Skills

Things that you are able to do like for a job or hobby

32

Spending

Using money to buy stuff

33

Stocks

A share in the ownership of a company. A company sells stock to raise money if the company does well, the value of the stock may increase

34

Taxes

Money that goes to the government to pay for things like schools, road repairs, and police and fire services.

35

Track your spending

To look at what you've done with you money over a period of time

36

Wage

Payment for the work you do. It can be an amount for each hour you work or based on by completing a task

37

Wants

Things you’d like to have, but they aren’t needed to survive