Financial Literacy Terms

2. Economics – How people’s thoughts and feelings affect money choices.
3. Fee – A fee for spending more money than is in your account.
5. Pay – Total money earned before deductions.
7. Account – A bank account you can quickly use for daily spending.
11. – Borrowing money to buy something and paying it back later with extra money.
14. Expenses – Costs that change every month.
15. – Putting money into an account.
16. Pay – Money left after taxes and deductions are taken out.
18. – A plan for how to spend and save money.
19. – Something you spend money on.
22. Aversion – Feeling losses more strongly than gains.
23. – The original amount of money borrowed.
25. Card – A card used to borrow money for purchases.

1. – Feeling like you’re missing out on something exciting happening somewhere else.
4. Value – How much money you can get by selling something used.
6. Cost Fallacy – Keeping with something because you already spent time or money on it.
8. Mentality – Following what other people are doing or believing.
9. – Extra money charged for borrowing money over time.
10. Score – A number showing how trustworthy you are with borrowing money.
12. Leaders – Cheap products sold to attract buyers.
13. – Money you pay before insurance helps cover costs.
17. Expenses – Bills that stay the same every month.
20. – Fixed pay you get over time no matter how many hours you work.
21. – A promise to fix or replace something if it breaks.
24. – Written orders telling a bank to pay money.