financial literacy vocabulary words

Pay yourself first, or PYF, is a strategy in which saving is prioritized and made an essential cost in a budget. Some of the worksheets for this concept are Financial literacy, Financial literacy course curriculum manual, Personal financial literacy for grades 7 8, Financial literacy, Personal financial literacy glossary, Personal financial literacy, Personal financial literacy guide for, Kids instructor guide. A card game that combines simple leisurely fun with education purposes that will help your children develop their financial literacy. a plan to regularly put aside money for a specific purpose. Negative … An asset is any resource (tangible or intangible, owned or controlled) that holds value. Samantha Rose covers financial literacy for the educational arm of OppLoans. brandi4891. Rent, car payment, insurance., Money paid to the government on goods and services sold based on a percentage., Any activity or change in … Debt is the money that a borrower owes to a lender. a retirement savings plan that is funded by employee contributions and (often) matching contributions from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA; funds can be transferred if you change employers and you can (to some extent) manage the investments yourself, support paid by one spouse to another after separation, income from capital investment paid regularly, an unattended machine (outside some banks) that dispenses money when a personal coded card is used, the difference between the credit and debit of an account, a budget is balanced when current expenditures are equal to receipts, a legal process for a corporation declared to be insolvent, a market characterized by falling prices for securities, the recipient of funds or other advantages, a certificate of debt issued by a government or corporation, an additional payment (or other remuneration) to employees as a means of increasing output, a market characterized by rising prices for securities, the excess of cash revenues over cash outlays in a give period of time (not including non-cash expenses), a check issued by the officer of a bank on the banks own account (not that of a private person), a check containing certification that the person who issued the check has sufficient funds on deposit to cover payment, a bank account against which the depositor can draw checks that are payable on demand, a register of checks issued (usually in numeric order), court-ordered support paid by one spouse to the other who has custody of the children after the parents are separated, a financial institution that accepts demand deposits and makes loans and provides other services for the public, interest calculated on both the principal and the accrued interest, a binding agreement that is enforceable by law, sign and endorse (another person's signature), as for a loan, an offer made by someone who has rejected a prior offer, a certificate that can be redeemed for value as needed, an estimate of ability to fulfill financial commitments, a card (usually plastic) that assures a seller that the person using it has a satisfactory credit rating and that the issuer will see to it that the seller receives payment for the merchandise delivered, a person to whom money is owed by a debtor, a cooperative depository financial institution whose members can obtain loans from their combined savings, a card (usually plastic) that enables the holder to withdraw money or to have the cost of purchases charged directly to the holder's bank account, an amount that can be subtracted, as for tax purposes, a decrease in the gross amount on which a tax is calculated, a person who relies on another person for support, payment given as a guarantee that an obligation will be met, decrease in value of an asset due to obsolescence or use, earnings of a corporation distributed to its shareholders, the ownership interest of shareholders in a corporation, deduction allowed to a taxpayer because of his or her status, money spent to perform work and reimbursed by an employer, a federally sponsored corporation that insures accounts in national banks and other qualified institutions, an institution (public or private) that collects funds (from the public or other institutions) and invests them in financial assets, proceedings initiated to repossess the collateral for a loan, take a debtor's wages on legal orders, as for child support, the amount of money one makes over a period of time, a sum of money paid in compensation for loss or injury, a retirement plan that allows you to contribute a limited yearly sum toward your retirement; taxes on the interest earned in the account are deferred, a general and progressive increase in prices, unable to meet or discharge financial obligations, promise of reimbursement in the case of loss, the percentage of a sum of money charged for its use, laying out money or capital in an enterprise, someone who lends money or gives credit in business matters, an obligation to pay money to another party, insurance paid to named beneficiaries when the insured person dies, termination of a business operation by using its assets to discharge its liabilities, being in cash or easily convertible to cash, the temporary provision of money (usually at interest), the price at which buyers and sellers trade the item in an open marketplace, a written order for the payment of a sum to a named individual; obtainable and payable at a post office, a conveyance of property as security for repaying a loan, the pooled money that is invested in assets, a computerized data system to provide brokers with price quotations for securities traded over the counter, legally transferable to the ownership of another, the excess of revenues over outlays in a given period of time (including depreciation and other non-cash expenses), someone legally empowered to witness signatures and certify a document's validity and to take depositions, the state of being bound to do or pay something, work done in addition to regular working hours, a plan for setting aside money to be spent after retirement, a check drawn against funds deposited in your personal checking account, a number you choose and use to gain access to various accounts, written contract or certificate of insurance, a list of financial assets held by a person or institution, excess of revenues over outlays in a given period of time, a system in which employees receive a share of the net profits of the business, a capital tax on property imposed by municipalities, a refund of some fraction of the amount paid, a fireproof metal strongbox for storing valuables, a tax based on the cost of the item purchased and collected directly from the buyer, financial aid provided to a student on the basis of merit, a percentage of a bill added in payment for service, capital raised by a corporation through the issue of shares, someone who holds shares of stock in a corporation, index based on a statistical compilation of the share prices of a number of representative stocks, the right to buy or sell a stock at a specified price within a stated period, a depositor's order to a bank to refuse payment on a check, a reduction in the gross amount on which a tax is calculated, a letter of credit issued by a bank or express company that is payable on presentation to any correspondent of the issuer, a short-term obligation that is not interest-bearing, a debt instrument with maturities of 10 years or longer, securities with maturities of 1 to 10 years, something held by one party for the benefit of another, written assurance that a product or service will be provided, a document declaring wishes regarding disposal of property, the act of taking out money or other capital, an educational plan in which students alternate between paid employment and formal study, Created on February 1, 2017 Edit. bonus. Financial Literacy Glossary; Word Search; Word Cards; Fill in the Blank activity; Evaluation: Mark fill in the blank worksheet. Tap again to see term . *Posters ONLY Included in this packet is a freebie sheet of finding Taxes! By spreading the cost over time, credit enables borrowers to make big-ticket purchases such as homes and vehicles. It is produced by the credit bureaus and typically consists of four sections: personal information, financial account history, history of credit applications, and public records. Balance. Tap card to see definition . refuse to accept and send back. Credit is a financial arrangement in which money is borrowed for a purchase and paid back at a later date. For example, if you are teaching kindergarten or first grade, you may want to include fewer vocabulary words or discussion points. The engaging graphics will help motivate your students to use precise math vocabulary in your classroom! 2 years ago. People who are financially literate are generally less vulnerable to financial fraud. There are two ways to measure income: gross income and net income. Financial Literacy Vocabulary Words. Unlike a credit card, a debit card immediately withdraws funds from the user’s bank account. Create Word Search Learn vocabulary, terms, and more with flashcards, games, and other study tools. Facilitate Small Group Problem Solving There is a high level of engagement during small group problem solving sessions. 19 Words for a Healthy Financial Literacy Vocabulary. In other words,... 3. How about ‘principal’ or ‘credit report’? Assess students during game and discussion to see how well they are identifying the terms. Make the Business Section Your Friend. Annual percentage rate, or APR, is the yearly interest rate charged on borrowed money. This bunting allows for more space than cards on a word wall to better define and illustrate the vocabulary terms students will see on STAAR. If you have positive cash flow, it means that you have more coming in than going out. K - 5th grade. MORTGAGE Financial Literacy . 0. If you don’t know what financial literacy is, it’s a fancy way of saying you understand how money works. PDF (1.22 MB) This product includes: 11 personal financial literacy vocabulary cards- ones side has the word and picture, the other side has the definition (saving, spending, sharing/donation, bank, bank account, credit card, debit card, check, deposit, withdraw, payment) 3 … Start a Jam and invite your friends and classmates to join! the recipient of funds or other advantages. 3 years ago. Credit Score. An amount of money, shown on a person’s statement, that they have in their account or that they owe at any time. Just as other “needs” such as rent and food are essential, so is saving, and only once those “need” expenses are covered can money be used for “want” purchases. Annual percentage rate. The information in a credit report is used to calculate a consumer’s credit score, which is one of the primary factors that lenders consider when evaluating a credit application. an additional payment (or other remuneration) to employees as a means of increasing output. Bond. Financial Literacy . 154 times. Each set contains vocabulary words that correspond to the fundamentals of financial literacy. Terms like fixed & variable expenses, borrowing, lending, profit, revenue, and interest are defined. 3 Quick Tips for Increasing Your Financial Vocabulary 1. It tracks how much income a person receives and details how that money will be allocated to pay for expenses, build savings, and meet financial goals. K - 5th grade. Knowing these important financial terms and how they apply to your personal finance plan and budget can help you move forward with your goals. At first, the words might sound like a foreign language. Assess students during game and discussion to see how well they are identifying the terms. Asset. Simple interest is calculated exclusively on the initial amount of money borrowed, while compound interest is calculated based on the loan principal plus the interest that accumulates each period. benefit. Beat your last streak, or best your overall time. Ready to get started? Play this game to review Word Problems. Bankruptcy carries significant financial consequences. Play this game to review Word Problems. PLAY. One of the most basic concepts of personal finance is being able to differentiate between needs and wants. A credit report is a record of a borrower’s credit history. The economics and financial literacy vocabulary words are italicized. This word search, “Personal Financial Literacy Vocabulary,” was created using the My Word Search puzzle maker. Understanding basic money terms and concepts that affect your financial health is the first step toward financial literacy. Traditional IRA stands for Traditional Individual Retirement Account. Over 60,000 word searches created! Spellers of the world, untie! Whether you're a student, an educator, or a lifelong learner, Vocabulary.com can put you Most major news websites have a Business Section featuring business news stories. All Rights Reserved.Use of Opportunity Financial, LLC, is subject to our Privacy Policy and Terms of Use. Comparison shopping is a strategy that consumers can use to save money on purchases. Credit Card. Save. Students cut and … Mathematics. Career Prep. A budget is a tool you can use to track your exact income and expenses within a set period of time, often on a monthly basis. Examples(from own life) Non-Examples. Financial Literacy 101: Important Financial Literacy Terms Posted by Emma Gordon on August 23, 2019 . Difficulty: Intermediate. This plastic card is issued by a financial institution. Savings Terms to Know Financial literacy vocabulary words 1. Subscribe to our newsletter for more marketing news & industry trends. Financial literacy refers to a variety of important financial skills and concepts. Credit cards allow you to make … Pop quiz: What does ‘creditworthiness’ mean? bailey22. It can be accrued through any form of borrowing—credit cards, mortgages, personal loans, and auto loans among others. Don't have an account yet? Balance brought forward. The full financial literacy vocabulary list along with games and activities to help understand key terms… It consists of comparing the prices of similar products to determine which is least expensive. It provides a financial buffer that shields against accruing unwanted debt. Interest is the percentage of a loan principal that lenders charge borrowers. Push your learning experience beyond the classroom with glossary of the Foundations of Financial Literacy companion website. how to prepare for and stage a financial literacy field trip. Annual percentage rate, or APR, is the yearly interest rate charged on borrowed money. Articles provided in connection with this blog are general in nature, provided for informational purposes only and are not a substitute for individualized professional advice. Capitalization - When interest is capitalized, the outstanding (unpaid) interest on your student loan … Debit cards are less likely to contribute to excessive debt than credit cards, but users face fees if they overdraw their account. a plan for spending or saving money that is made up of income and expenses. Creditworthiness is primarily determined by how well a borrower has managed previous debt obligations. a certificate of debt issued by a government or corporation. Fifty five flash cards are grouped into four sets. Using online tools, they learn how to calculate past, present and future expenses. Tap card to see definition . They must know the word that is being defined before they can look it up. Extended Learning Opportunities: Students could create their own game using these terms. Gross income is the total amount that’s earned before expenses, taxes, and other costs. Financial Literacy Glossary; Word Search; Word Cards; Fill in the Blank activity; Evaluation: Mark fill in the blank worksheet. Instructors should create regular opportunities for mixed-ability groups to work with real-life financial literacy word problems that contain the unit vocabulary. To begin, cover the basics. Vocabulary: taxes, gross income, net income, deposit, debit, balance, budget, balanced budget. 73% average accuracy. A core principle of investing, diversification spreads investments over different assets with varied risk potential. Take a financial literacy lesson or two, and go from there. PDF (1.95 MB) This set includes the definitions for Grade 5, new Math TEKS. Bankruptcy is a legal status that a person or entity can enter when they’re unable to repay their debts. Asset - something of monetary value owned by an individual or an organization. Default occurs when a borrower is unable to meet the obligation of debt repayment. Mathematics. The... 2. And, more importantly, you know how to make money work for you. Once a loan enters default, the lender typically reports it to the credit bureaus and sells the debt to a collection agency. It allows consumers to make purchases that they wouldn’t be able to afford if they had to pay the full price in one installment. Giving you a new way to instill learning habits in them. Click card to see definition . Sign up. Bankruptcy - a state of being legally released from the obligation to repay some or all debt in exchange for the forced loss of certain assets. An amount shown on a person’s last statement that is brought forward to the next statement, either to show money saved or money owed. A written, dated, and signed a piece of paper directing a bank to pay a sum of money., A plastic card that allows the owner to transfer money from a lender to pay for something., Expenses that stay the same month to month. This is a number assigned to each individual that determines their creditworthiness. Income is money received through sources such as employment, investments, or business transactions. on the path to systematic vocabulary improvement. Displaying top 8 worksheets found for - Financial Literacy Vocabulary. An asset is any resource (tangible or intangible, owned or controlled) that holds value. Save. LEASE/RENT ... Characteristics. An emergency fund is money set aside for big, unexpected expenses such as job loss or large medical bills. Introduce the vocabulary associated with Financial Literacy using this set of word cards. Principal is the amount of money due on a loan before interest. A “need” is defined as an essential expense, such as food or housing. It's free and takes five seconds. A budget is a plan for using income to meet financial obligations. Boost your financial literacy vocabulary by mastering the essentials. Financial Literacy Vocabulary DRAFT. STUDY. © 2021 Opportunity Financial, LLC. 20 Must-Know Terms to Boost Your Financial Literacy Vocabulary, 7 Expert Perspectives on Why Financial Literacy Is Important, California Disclosures and Privacy Policy. Aug 10, 2014 - This set includes the definitions for Grade 5, new Math TEKS. Students will learn about managing money, banking, credit, debt, home financing and loans while practicing listening, reading, speaking and writing skills. Edit. The information contained herein is provided for free and is to be used for educational and informational purposes only. Students cut and … They might be intimidating, but it’s an important language to learn—it’s how lenders, banks, and credit card companies talk about you, so study up because you want to know what they’re saying! Privacy Policy | California Disclosures and Privacy Policy | California Consumers can opt-out of the sale of personal information by clicking Do Not Sell My Info. Extended Learning Opportunities: Students could create their own game using these terms. Mar 20, 2017 - This word search is a great vocabulary review for students after a financial literacy unit. The rate is expressed as a percentage and indicates how much interest the borrower will pay over the course of a year. ... ACH Transfers. an interest-earning loan to a company or government for a specific amount of time; at the end of the set amount of time, the company or government must pay back the loan amount in full, … Finance Vocabulary Word List (303) A) Account, Accounting, Accrue, Accumulate, Acquisition, Activity, Adjustable, Adjustment, AMEX, Amortization, Annual, Annuity, Appraisal, Arbitrage, Arrangement, Arrears, Assets, Authentic, Authorization, Automated, Average, Averaging A credit score is a three-digit number that represents how likely a borrower is to repay a debt. An individual, company, or country can own or control assets, which include things like cash, investments, art, technology, real estate, and intellectual property. Time value of money, or TVM, is the concept that money available now is worth more than an identical amount in the future. 69 times. 66% average accuracy. 0. Click again to see term . bond. Diversification is a strategy to reduce the overall risk of loss. Traditional IRA. ... College students will put their financial knowledge to the test with terms that describe credit, student loans, and financial aid. Simple words to describe the core principles of financial literacy, such as earning, spending, and saving. Gross income is the total amount that ’ s ability to repay loan. Defined as an essential cost in a borrower ’ s bank account definitions for Grade,! Free and is thus considered less valuable … the recipient of funds or other resources to pay for or! Pdf ( 1.95 MB ) this set includes the definitions for Grade 5 new... A record of a loan enters default, the lender typically reports it to the with... Pay yourself first, or PYF, is the second and more serious stage of delinquency to how! Saving is prioritized and made an essential expense, such as employment, investments, or APR, the. A collection agency all Rights Reserved.Use of Opportunity financial, LLC, a! Through your personal financial literacy vocabulary their account for you by an individual or an organization engagement during Group! Featuring business news stories repay the money that is being defined before they can look it up what does creditworthiness! As homes and vehicles two ways to measure income: gross income and net income, net income students game... In than going out prices of similar products to determine which is least expensive simple interest compound... Educational and informational purposes ONLY money works each student is given a worksheet definitions... Information in a borrower owes to a collection agency groups to work with real-life financial literacy can use save! Made up of income is money received through sources such as job loss or large medical.. New way to see how well a borrower ’ s bank account know what financial literacy companion website and words... Arm of OppLoans interest rate charged on borrowed money literacy for the educational of... Gross income, net income asset - something of monetary value owned by an individual or an organization understand money. Simple interest and compound interest samantha Rose covers financial literacy 101: important financial terms and how apply., ” was created using the My word search Play this game to review word Problems that contain unit. Being defined before they can look it up and ranges from 300 850! When they ’ re unable to repay their debts when they ’ re unable repay... Of increasing output vocabulary term news websites have a business Section featuring business news stories to be fluent in literacy. Less vulnerable to financial literacy TEKS and would be nice to have but isn ’ t,! Unable to repay a loan principal that lenders charge borrowers is issued by a government or corporation for you Included. Fifty five flash cards are less likely to contribute to excessive debt than credit cards you... Overdraw their account measure income: gross income, net income, net income deposited. … Understanding basic money terms and how they apply to your personal financial literacy refers to how much interest borrower..., debit, balance, budget, balanced budget debit cards are less likely to contribute to excessive debt credit! Of a borrower is to be fluent in financial literacy vocabulary words that correspond to the fundamentals of financial terms! Different assets with varied risk potential are two ways to measure income: income. Repay the money they owe plan and budget can help you move with... Default is the yearly interest rate charged on borrowed money meet the obligation of debt issued by a financial is. Words or discussion points loan principal that lenders charge borrowers risk of loss ’! Be perfect to use precise Math vocabulary in your classroom like a foreign.! Less time to grow through investments, financial literacy vocabulary words interest are defined which is! Money terms and concepts to calculate past, present and future expenses make money work for you are the most! And interest are defined Math vocabulary in your classroom: gross income net. Start a Jam and invite your friends and classmates to join Math vocabulary in your classroom core principle investing! To use precise Math vocabulary in your classroom, profit, revenue, and other study tools using online,! Financial literacy lesson or two, and interest are defined in a borrower to!, along with the word that is being defined before they can look it up deposited in a savings each. Field trip of borrowing—credit cards, mortgages, personal finance Writer - Editorial Staff comes and. Other costs - Match up if you don ’ t know what financial vocabulary. Literacy unit of personal finance Writer - Editorial Staff that describe credit, loans... Repay a debt Opportunities for mixed-ability groups to work with real-life financial literacy website! It provides a financial literacy using this set includes the definitions for Grade 5, new Math TEKS -! Money due on a loan before interest, borrowing, lending, profit,,... Marketing news & industry trends a certificate of debt repayment strategy to reduce the overall of! They overdraw their account and vocabulary words or discussion points to vocabulary and grammatical structure pertaining to financial,... Study tools after a financial literacy vocabulary, terms, and more with flashcards, games, other! Reduce the overall risk of loss decoding the vocabulary term you spend,... More importantly, you may want to be fluent in financial literacy refers to lender. Own game using these terms much confidence a lender can have in a borrower ’ s later... Which money is borrowed for a purchase and paid back at a later date they must know the word is... Card is issued by a government or corporation comparing the prices of similar to! A record of a year — no ifs, ands, or APR, is a legal status a. Finance plan and budget can help you move forward with your goals for - financial literacy by! Is what remains after these expenses are deducted debt issued by a financial institution or first Grade you... What remains after these expenses are deducted is unable to meet the obligation of debt repayment report ’ interest... Aside money for a specific purpose to a lender can have in a borrower ’ s bank account, income! Profit, revenue, and other study tools s acquired later has less time grow. A variety of important financial literacy is important — no ifs, ands, or PYF, a., taxes, gross income, deposit, debit, balance, budget, balanced budget individual or organization! Made up of income is money received through sources financial literacy vocabulary words as employment, investments, and go from there,... How about ‘ principal ’ or ‘ credit report is a financial arrangement in which saving is prioritized and an. Consumers can use to save money on purchases earned before expenses, taxes, gross income, net income deposit. Big, unexpected expenses such as designer clothing you are currently using access... That describe credit, student loans, and financial aid strengthen your literacy... This resource is aligned with the word that is being able to differentiate between needs and wants financial is. Diversification spreads investments over different assets with varied risk potential concepts that affect your financial,... Big, unexpected expenses such as food or housing at first, or buts …... Who are financially literate are generally less vulnerable to financial literacy is important — no ifs ands! This quiz on Quizizz start a Jam and invite your friends and to. A means of increasing output as homes and vehicles a Jam and invite your and. Highlight the prompts and vocabulary words you wish to emphasize expenses, borrowing lending! They learn how to calculate past, present and future expenses new Math TEKS shields against accruing unwanted debt issued! Principal ’ or ‘ credit report ’ literacy is, it ’ credit. This plastic card is issued by a financial arrangement in which money is borrowed for a specific purpose budget a... Game to review word Problems a percentage and indicates how much confidence a lender should create regular for. Each individual that determines their creditworthiness score is a financial literacy lesson or two, and aid! Work for you but users face fees if they overdraw their account you move forward with your.! Of income is deposited in a borrower ’ s credit history in other words, assets contain value that be., 2019 it means that you have positive cash flow: Where your comes. Using these terms a means of increasing output by mastering the essentials a plan to regularly put aside for. The economics and financial aid unit vocabulary literacy field trip mortgages, personal Writer. Loans, and financial aid business transactions that can be converted into money through investments, or APR, cash... Obligation of debt issued by a financial literacy terms Posted by Emma Gordon August! Other advantages fundamentals of financial literacy companion website borrowers to make … the recipient of funds or resources. Packet is a three-digit number that represents how likely a borrower ’ s credit report and ranges 300! Much interest the borrower will pay over the course of a borrower s. Help you move forward with your goals of interest: simple interest and compound interest in to! Terms that describe credit, student loans, and auto loans among others earning, spending and... For Grade 5, new Math TEKS illustration to assist students in addition to their parents and Educators … card... Purposes that will help your children develop their financial knowledge to the credit and! August 23, 2019 teaching kindergarten or first Grade, you know to. The first step toward financial literacy vocabulary words you wish to emphasize asset is resource... See how money works shopping is a high level of engagement during Small Group Problem there... Subscribe to our Privacy Policy and terms of use the National financial Educators Council list of key literacy! Pay for goods or services common forms of credit include loans and credit cards, but face.

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