Money Basics
In Japan, you'd need yen. In the UK, you'd use pounds. What do we call this type of money?
Currency
You swipe your card at the grocery store, and the money comes straight from this type of account. What is it?
Checking Account
Jenna used her credit card for shopping but hasn’t paid it off yet. What does she have?
Debt
Every month, Alex writes out how much he’ll spend on groceries, rent, and fun. What is this plan called?
Budgeting
Without these things, you can't survive. What do we call them?
Every two weeks, Jamal gets paid from his part-time job. What is this money called?
Income
Olivia gets birthday cash and takes it to the bank to add it to her account. What is this action called?
Deposit
A lender checks this number to decide whether to loan you money. The higher it is, the better. What is it called?
Credit Score
Sarah wants to buy a car in two years, so she’s saving up. What is this type of plan called?
Financial Goal
Fancy shoes and eating out are examples of these.
Wants
Last year, a burger was $5. Now it's $7. What’s the economic term for this increase in prices over time?
Inflation
It's a place that offers savings accounts, checking accounts, and sometimes loans. What is it?
Bank
To get a car loan, Luis offers the car itself as backup in case he can’t pay. What is that car considered?
Collateral
Ava keeps $500 in a special account just in case her car breaks down. What is that money called?
Emergency Fund
These include things like public transportation and internet access. What are they called?
Facilitative Resources
If 1 U.S. dollar equals 150 Japanese yen, what is this relationship called?
Exchange Rate
Malik puts $100 into an account that slowly grows with interest over time. What kind of account is this?
Savings Account
If you take out a $1,000 loan, before interest or fees, what is that $1,000 called?
Principle
Instead of spending $200, Rico puts it into stocks hoping it grows over time. What is this strategy called?
Investing
When some groups have way more chances than others, what is this called?
Inequity
If prices go up and your paycheck stays the same, you can afford fewer things. What is this a loss of?
Purchasing Power
You go to the ATM and take out $20. What financial action are you doing?
Withdrawal
After falling deep into debt, someone might go to court to erase some or all of it. What is this process called?
Bankruptcy
You own a car, a phone, and some savings. You also have student loans. What do you call your overall financial value?
Net Worth
If one student gets extra help on a test because they need it, what concept is being applied?
Equity