Financial Literacy Vocabulary (1)
Money in the form of bills or coins.
What is Cash?
Amount of money earned by being self-employed or by doing a job for another person or business.
What is income?
Work that a person does.
What is labor?
Lincoln had $31.80 and then bought ice-cream for $27.50. How much has he left?
What is $4.30?
Clara donates money to the homeless shelter once a month. What is this an example of?
What is charity / charity giving?
Giving money to charity or other people.
What is sharing?
Learning about money; how it works, how we use it, and how to manage the money we have.
What is Financial Literacy?
Putting money aside from current income to buy something in the future
What is saving?
Wallis uses a credit card for a purchase. By her, using a credit card, she generally has to pay back more than the amount borrowed. Is that true or false?
What is true?
Soleille, Kate, Claire, and Hattie are now working career young ladies. They are planning their monthly budgets individually. Which of these would NOT be a reason to save some money in a savings account?
To be prepared for unexpected expenses?
To buy a new house for their family?
To keep people from asking them to loan them money?
What is to keep people from asking them to loan them money?
You ______ money when you give someone else money that needs to be paid back.
What is loan?
You _______ money when a person or a bank gives you money that you will need to pay back.
What is borrow?
Trading money for goods or services.
What is Spending?
James had $42.50 more than Isaac who has $22.30. How much money does James have?
What is $64.80?
Which are examples of expenses?
allowance
vending machine drinks
birthday money
new clothes
What is / are vending machine drinks and new clothes?
The money paid by a borrower to a lender for the use of the lender's money.
What is interest?
Shows someone's income and expenses.
For it to be balanced, the income must equal the expenses.
What is Budget?
The money paid by a borrower to a lender for the use of the lender's money.
What is interest?
Elwood has $73.60. He needs $94.20 to buy a baseball bat and glove. How much more money does he need to buy them?
What is $20.60?
The Lim family decided to but a swimming pool. The pool cost $414.88, the ladder cost $49.84, and the cover was $15.99. Sales tax (a fee that is added to the price of an item) was $20.19. How much did they pay in all?
What is $500.90?
It is a card which allows people to buy items without cash. When they buy something, a sales clerk uses it to charge the money needed to their bank account, so the person will pay later. They are buying it on credit, which is the trust that they will pay it back later.
What is a credit card
A plastic card that is used as a payment method to cash when buying things. The money comes directly from the user's bank account, and if there is no money it does not work.
What is a debit card?
When money is loaned to a person to pay for something, and then the borrower pays the lender back, usually over time and with interest.
What is credit?
Complete the statements:
When Ashleigh walks her neighbor's dog after school, that is her _________.
From that, she earns an/a _________ of $25 per week.
(Refer to your vocabular for the week.)
What is labor and income?
Matteo helped his family shop for things for their new dog. They bought a dog bed for $5.99, a dog toy for $2.99, and a bag of dog food for $22.73. The sales tax was $1.33. Matteo's dad handed the clerk a fifty-dollar bill. How much change did he receive?
What is $16.96?