Financial Literacy

1. something you apply for and are awarded based on talents, grades, or other circumstances. They do not need to be paid back.
5. borrowing money from a private bank or the federal government for schooling
8. takes a loan from a bank and agrees to repay the loan back over time. The borrower pays interest on the loan.
9. a transaction in which a sum of money is put into a bank account by the owner of the account.
11. keeps track of the deposits, withdrawals, and transfers within an account.
12. displays an individual’s history of borrowing and paying back money. Lender’s use this to determine if the borrower is financially responsible to pay back money.

2. a person who buys goods and services
3. a person or financial institution that lends money. In return, the lender charges interest in order to earn money from the loan.
4. money can be transferred between accounts that are owned by the same account owner
6. a card issued by a financial company to borrow money that you will repay later
7. a transaction in which money is subtracted from a bank account by the account owner.
10. amount of money given, and it is usually based on a finished need. It does not need to be paid back.
13. a card issued by a bank or other financial institution to immediately transfer your own money out of your account