Financial Literacy 1
What method of payment requires you to tap or insert a card to pay for something?
Debit card or credit card.
What do we call knowing and using different money skills?
Financial literacy.
What can you use to write down and keep track of what you spend and save?
A list or a spending plan.
What is it called when you give money to help people or causes in need?
Donating.
What is the term for getting money from someone as a gift or reward, like for your birthday?
Allowance or gift money.
A thing that is borrowed, especially a sum of money that is expected to be paid back in interest.
A Loan
The money charged for the privilege of borrowing money.
What is interest?
What should you do before buying something expensive?
Think about whether you really need it or compare prices.
written orders to a bank to pay a certain amount of money from a checking account to another person or business
What is a CHECK?
What payment method uses a phone or smartwatch to complete purchases without cash or cards?
Mobile payment or electronic wallet (e.g., Apple Pay).
A bank card that automatically deducts the amount of a purchase from your checking account.
What is a debit card?
Name a digital payment method that stores funds in an app for contactless payments.
Electronic wallet.
Name one thing people can buy to invest their money.
Property or a home.
What happens if the business you invest in does very well?
Your money can grow.
A plan for earning and spending over a period of time.
What is a budget?
What kind of card lets you buy something now and pay for it later, even if you don’t have money in your account, but you’ll need to pay it back with possible fees or interest?
a credit card
Money owed from one person to another person/an institution
What is a debt?
a computerized cash payments system that transfers funds without the use of checks, currency, or other paper documents.
What are ELECTRONIC FUNDS? / E-transfer
What is the act of using money to buy things you need or want?
Spending.
What do you call the fee you might pay if you borrow money with a credit card and don’t pay it back on time?
Interest.
What method of payment involves exchanging goods or services directly without money?
Bartering.
What type of business allows someone to run their own shop or sell their own products for profit?
Owning a small business, like a bakery or a lemonade stand.
What does it mean to invest your money?
To buy something, like a house or stocks, that could help make more money later
A portion of current income not spent on consumption.
What is SAVINGS?
What is the term for a list showing how much money you earn and how much you spend?
Budget.
What is the term for transferring money electronically via email or phone number?
E-transfer.
What is the term for keeping money aside to use later?
Saving.
Giving up one thing for another.
What is a TRADE-OFF?
What is a small plastic card that takes money directly from your bank account when you buy something?
Debit card.
What do you call the money you put into a savings account at a bank?
Deposit.
What method of payment allows you to borrow money up to a certain limit, but charges interest if not paid on time?
Credit card.
Why is it important to save money?
To buy something in the future or for emergencies.
An automatic deposit of a paycheck without having to take a physical check to the bank.
What is a DIRECT DEPOSIT?
What is the most common form of money made of paper and coins?
Cash.
What is the name for the money you get for working a regular job?
Salary or wages.