Financial literacy vocab

Money or things you owe to others.

Money, like coins and bills, that people use to buy things.

A place where people keep their money, save, borrow, or exchange it.

When someone lends you money, and you agree to pay it back later with interest.

The amount of money you still own on a loan or credit card

To take money out of your bank account

How useful or important something is

A bank account that lets you deposit, withdraw, and write checks to pay for things.

The percentage of extra money you pay or earn based on how much money is borrowed or saved.

When someone has a history of not paying back money they owe, making it risky for banks to lend them money.

A written note telling a bank to pay someone a certain amount of money.

The money you earn from working, selling things, or making investments.

A card linked to your checking account that lets you take out money or buy things by using your own money.

When you spend more money than you have in your account, and the bank covers it, making you owe them money.

Money spent on things like rent or food.

The chance of losing money or not getting what you expect from an investment or loan

The extra money you pay to borrow money or the money you earn for saving money.

A plan for how to spend and save money each month or year.

The smallest amount you have to pay on a loan or credit card to avoid problems.

A service that lets you keep and track your money. Common types are savings and checking accounts.

The most money a bank or business will let you borrow, like on a credit card.

A bank account where you save money and earn some interest

The original amount of money you borrow or invest, before interest or extra fees.

When someone is trusted to borrow money because they've paid back their debts in the past.

The amount of money you still owe on a loan or bill

A charge for making a payment after it's due date

How much money you can make from working.

The length of time you have to repay a loan

When a bank or business lets you buy something now and pay for it later.