Financial Literacy Terms

5. The amount of money you need to pay toward expenses before your insurance will cover the rest.
6. Anything that you spend money on.
7. The amount you owe to someone else.
9. The amount you pay to a healthcare provider before your insurance takes the claim.
11. The physical form of money, such as coins or paper money.
12. A fee from your bank or credit union when you try to spend more than what is in your account.
18. Moving money from one account to another.
19. Necessities like electricity, gas, and water, which are paid monthly as part of your household expenses.
21. An amount charged for borrowing money or paid to you for lending it.
23. An amount removed from your bank or credit union account to pay for something.
24. An amount available in or owed on an account.
25. A document that comes with your paycheck, showing how much you were paid and how much was withheld for taxes.

1. A budgeting method where you record your earnings twice: once in your account and once in your budget.
2. A contract that allows you to borrow someone's property for a specified amount of time and money.
3. The smallest amount you are required to pay on money you borrowed in order to avoid fees or fines.
4. The amount of money left on your paycheck after taxes have been withheld.
8. When you turn your money over to a financial institution for safekeeping.
10. A plan for what you're going to spend your money on.
13. A record or statement of financial expenditures or receipts, often related to a bank or credit union.
14. Money paid to the federal or state government for services and programs. Everyone has to pay them.
15. A bank account that allows quick access to money for everyday expenses.
16. Money earned through work.
17. The money you borrow when using a loan or credit card.
20. Borrowing money to pay for something with the understanding you'll pay it back, plus more, later.
22. A request to your insurance company to pay for something.