Financial Literacy

Adding a sum of money to your account to increase your account balance.

A plan for future spending and saving

Tax collected by a government directly on personal income

A record of an individual’s past borrowing and payments.

A reporting agency that collects information on consumer credit usage. There are currently three

A credit score is a from 300 to 850 based on credit report information received from credit bureaus.

An account where money is kept for future use.

The money an individual spends regularly for items or services

Debt taken on for items that a person cannot afford

Personal expenses that are the same each month

The dishonest use of another person’s information for financial gain.

The maximum amount a customer is able to withdraw from an account

The price paid for an item or service

A financial institution that invests money deposited by customers, provides loans, and exchanges money (currency)

The maximum dollar amount that can be charged on a specific credit card account.

Allows customers to handle banking business via the internet

The total amount of money an individual has earned before voluntary deductions

An individual set aside money for retirement

Owing money to another individual or business, for the amount of money borrowed.

The amount of money in a savings or checking account.

Money set aside for emergency expenses, recommended to cover 3-6 months of expenses.

The amount an employee earns once taxes and other items are deducted from gross pay.

A raise in the cost of products and services over time.

The recording of financial transactions and exchanges.

The total amount of money being transferred into or out of a business, account, or an individual’s budget

When you take money out of your account

Payment received for goods or services, including employment

Fees incurred when a customer withdraws more money from an account than what is available.

Minimum amount of money that you are required to pay on your credit card each month to keep the account in good standing

Spur-of-the-moment, unplanned decision to buy

The concept that sometimes it is worth taking on certain types of debt in order to generate income in the long run.

An account at a bank that allows checks to be written and deposited by the account holder.

Card issued by a bank or other business for purchases using borrowed funds to be paid back later