In other words, assets contain value that can be converted into money. Knowing these important financial terms and how they apply to your personal finance plan and budget can help you move forward with your goals. 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from the employer; contributions are made from your salary before taxes and the funds grow tax-free until they are withdrawn, at which point they can be converted into an IRA; funds can be transferred if you change employers and you can (to some extent) manage the investments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 The... 2. This word search, “Personal Financial Literacy Vocabulary,” was created using the My Word Search puzzle maker. Personal Financial Literacy Vocabulary - Match up. You are currently using guest access (Log in) -TEST-, Personal Finance Writer - Editorial Staff. An amount of money, shown on a person’s statement, that they have in their account or that they owe at any time. These words relate both to the economics standards in social studies, as well as real-world mathematics and financial literacy. on the path to systematic vocabulary improvement. Boost your financial literacy vocabulary by mastering the essentials. Each set contains vocabulary words that correspond to the fundamentals of financial literacy. 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 … 3 Quick Tips for Increasing Your Financial Vocabulary 1. Default occurs when a borrower is unable to meet the obligation of debt repayment. Tap card to see definition . 19 Words for a Healthy Financial Literacy Vocabulary. Net income is what remains after these expenses are deducted. 0. 73% average accuracy. 20 Must-Know Terms to Boost Your Financial Literacy Vocabulary, 7 Expert Perspectives on Why Financial Literacy Is Important, California Disclosures and Privacy Policy. Pop quiz: What does ‘creditworthiness’ mean? Giving you a new way to instill learning habits in them. Annual percentage rate, or APR, is the yearly interest rate charged on borrowed money. Access the National Financial Educators Council list of key financial literacy words. A credit score is a three-digit number that represents how likely a borrower is to repay a debt. to use money or other resources to pay for goods or services. 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. Ready to get started? Personal financial literacy is important — no ifs, ands, or buts. Edit. Don't have an account yet? Edit. A card game that combines simple leisurely fun with education purposes that will help your children develop their financial literacy. Pay yourself first, or PYF, is a strategy in which saving is prioritized and made an essential cost in a budget. Time value of money, or TVM, is the concept that money available now is worth more than an identical amount in the future. ... Credit Report. Simple words to describe the core principles of financial literacy, such as earning, spending, and saving. Balance. 154 times. Play this game to review Word Problems. Creditworthiness is a term that refers to how much confidence a lender can have in a borrower’s ability to repay a loan. 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. Difficulty: Intermediate. K - 5th grade. Mathematics. 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! Rent, car payment, insurance., Money paid to the government on goods and services sold based on a percentage., Any activity or change in … Bankruptcy shields borrowers from debt collection, but it requires that they sell their assets to repay the money they owe. Typically, in PYF a certain percentage of income is deposited in a savings account each month. 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. Creditworthiness is primarily determined by how well a borrower has managed previous debt obligations. Click card to see definition . Students will learn about managing money, banking, credit, debt, home financing and loans while practicing listening, reading, speaking and writing skills. brandi4891. Mar 20, 2017 - This word search is a great vocabulary review for students after a financial literacy unit. And, more importantly, you know how to make money work for you. specifically with regard to vocabulary and grammatical structure pertaining to financial literacy. Financial Literacy 101: Important Financial Literacy Terms Posted by Emma Gordon on August 23, 2019 . In other words,... 3. Understanding financial terminology is an essential part of financial literacy. A core principle of investing, diversification spreads investments over different assets with varied risk potential. It consists of comparing the prices of similar products to determine which is least expensive. a plan to regularly put aside money for a specific purpose. All Rights Reserved.Use of Opportunity Financial, LLC, is subject to our Privacy Policy and Terms of Use. People who are financially literate are generally less vulnerable to financial fraud. It provides a financial buffer that shields against accruing unwanted debt. Students cut and … Tap again to see term . Savings Terms to Know Learn vocabulary, terms, and more with flashcards, games, and other study tools. This is a number assigned to each individual that determines their creditworthiness. Samantha Rose covers financial literacy for the educational arm of OppLoans. Sign up. Bankruptcy. Principal is the amount of money due on a loan before interest. They must know the word that is being defined before they can look it up. bond. Financial Literacy Vocabulary Words. Want to be fluent in financial literacy? Annual percentage rate, or APR, is the yearly interest rate charged on borrowed money. Her work focuses on providing hands-on resources for high school and college-age students in addition to their parents and educators. Financial Literacy Vocabulary DRAFT. A budget is a plan for using income to meet financial obligations. Aug 10, 2014 - This set includes the definitions for Grade 5, new Math TEKS. *Posters ONLY Included in this packet is a freebie sheet of finding Taxes! Balance brought forward. Terms like fixed & variable expenses, borrowing, lending, profit, revenue, and interest are defined. Budget. Financial Literacy Vocabulary DRAFT. 66% average accuracy. Bankruptcy is a legal status that a person or entity can enter when they’re unable to repay their debts. PLAY. Start studying Financial Literacy Vocabulary. Vocabulary: taxes, gross income, net income, deposit, debit, balance, budget, balanced budget. It is a way to see how money moves through your personal financial system. Save. It is calculated based on the information in a borrower’s credit report and ranges from 300 to 850. A “need” is defined as an essential expense, such as food or housing. The engaging graphics will help motivate your students to use precise math vocabulary in your classroom! Start a Jam and invite your friends and classmates to join! Here are the 20 most important terms to strengthen your financial literacy vocabulary. a plan for spending or saving money that is made up of income and expenses. Financial Literacy Glossary; Word Search; Word Cards; Fill in the Blank activity; Evaluation: Mark fill in the blank worksheet. Interest is the percentage of a loan principal that lenders charge borrowers. *Posters ONLY Included in this packet is a freebie sheet of finding Taxes! LEASE/RENT ... Characteristics. Beat your last streak, or best your overall time. Financial literacy vocabulary words 1. This plastic card is issued by a financial institution. Balance transfer. bonus. Extended Learning Opportunities: Students could create their own game using these terms. how to prepare for and stage a financial literacy field trip. financial assistance in time of need. Tap card to see definition . refuse to accept and send back. Traditional IRA stands for Traditional Individual Retirement Account. One of the most basic concepts of personal finance is being able to differentiate between needs and wants. the recipient of funds or other advantages. Bond. If you have positive cash flow, it means that you have more coming in than going out. Credit is a financial arrangement in which money is borrowed for a purchase and paid back at a later date. bounce. Money that’s acquired later has less time to grow through investments, and is thus considered less valuable. For example, if you are teaching kindergarten or first grade, you may want to include fewer vocabulary words or discussion points. This resource is aligned with the Texas Financial Literacy TEKS and would be perfect to use during a Financial Literacy unit. Individuals can … an additional payment (or other remuneration) to employees as a means of increasing output. Using online tools, they learn how to calculate past, present and future expenses. Common forms of credit include loans and credit cards. Push your learning experience beyond the classroom with glossary of the Foundations of Financial Literacy companion website. The economics and financial literacy vocabulary words are italicized. Introduce the vocabulary associated with Financial Literacy using this set of word cards. a certificate of debt issued by a government or corporation. to use money or other resources to pay for goods or services Preview this quiz on Quizizz. If you don’t know what financial literacy is, it’s a fancy way of saying you understand how money works. Edit. Career Prep. Asset - something of monetary value owned by an individual or an organization. Credit Card. Default is the second and more serious stage of nonpayment that follows the stage of delinquency. Save. Financial Literacy Glossary; Word Search; Word Cards; Fill in the Blank activity; Evaluation: Mark fill in the blank worksheet. 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. Take a financial literacy lesson or two, and go from there. It's free and takes five seconds. Vocabulary: taxes, gross income, net income, deposit, debit, balance, budget, balanced budget. 3 years ago. Students cut and … Credit Score. © 2021 Opportunity Financial, LLC. Examples(from own life) Non-Examples. Over 60,000 word searches created! Gross income is the total amount that’s earned before expenses, taxes, and other costs. 2 years ago. Asset. Credit cards allow you to make … Facilitate Small Group Problem Solving There is a high level of engagement during small group problem solving sessions. Start with these 20 essential words. Traditional IRA. 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. Whether you're a student, an educator, or a lifelong learner, Vocabulary.com can put you Assess students during game and discussion to see how well they are identifying the terms. 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. 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. It can be accrued through any form of borrowing—credit cards, mortgages, personal loans, and auto loans among others. Each card features a word and illustration to assist students in decoding the vocabulary term. What is a business agreement or exchange? There are two primary kinds of interest: simple interest and compound interest. A “want” is an expense that would be nice to have but isn’t essential, such as designer clothing. We make no representation that we will improve or attempt to improve your credit record, history, or rating through the use of the resources provided through the OppLoans blog. Fifty five flash cards are grouped into four sets. Checking Account. Displaying top 8 worksheets found for - Financial Literacy Vocabulary. Income is money received through sources such as employment, investments, or business transactions. Through a think-aloud read-aloud, the lesson will illuminate key economic vocabulary embedded in the text, as well as illustrate how to introduce key economic concepts through think-alouds and talking/writing about the text. At first, the words might sound like a foreign language. This is because money that’s invested has the potential to grow, and the longer that it’s invested, the more it will appreciate. Understanding basic money terms and concepts that affect your financial health is the first step toward financial literacy. Mathematics. Annual percentage rate. 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. How about ‘principal’ or ‘credit report’? K - 5th grade. Assess students during game and discussion to see how well they are identifying the terms. Financial Literacy . Create Word Search (updated April 3, 2017). benefit. PDF (1.95 MB) This set includes the definitions for Grade 5, new Math TEKS. 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, … Debt is the money that a borrower owes to a lender. 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. To begin, cover the basics. The information contained herein is provided for free and is to be used for educational and informational purposes only. Capitalization - When interest is capitalized, the outstanding (unpaid) interest on your student loan … It's free and takes five seconds. 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. 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. Edit. Make the Business Section Your Friend. Spellers of the world, untie! We are not a credit repair organization as defined under federal or state law and we do not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit. 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 Unlike a credit card, a debit card immediately withdraws funds from the user’s bank account. Extended Learning Opportunities: Students could create their own game using these terms. An individual, company, or country can own or control assets, which include things like cash, investments, art, technology, real estate, and intellectual property. Bankruptcy carries significant financial consequences. STUDY. Debit cards are less likely to contribute to excessive debt than credit cards, but users face fees if they overdraw their account. 69 times. Preview this quiz on Quizizz. Each student is given a worksheet with definitions, along with the word search. bailey22. An emergency fund is money set aside for big, unexpected expenses such as job loss or large medical bills. An asset is any resource (tangible or intangible, owned or controlled) that holds value. Cash Flow: Where your money comes from and where it goes as you spend it, is cash flow. There are two ways to measure income: gross income and net income. By spreading the cost over time, credit enables borrowers to make big-ticket purchases such as homes and vehicles. Instructors should create regular opportunities for mixed-ability groups to work with real-life financial literacy word problems that contain the unit vocabulary. 0. Highlight the prompts and vocabulary words you wish to emphasize. 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. The rate is expressed as a percentage and indicates how much interest the borrower will pay over the course of a year. Diversification is a strategy to reduce the overall risk of loss. ... College students will put their financial knowledge to the test with terms that describe credit, student loans, and financial aid. ... ACH Transfers. Subscribe to our newsletter for more marketing news & industry trends. Once a loan enters default, the lender typically reports it to the credit bureaus and sells the debt to a collection agency. Negative … Most major news websites have a Business Section featuring business news stories. Play this game to review Word Problems. Comparison shopping is a strategy that consumers can use to save money on purchases. 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. The full financial literacy vocabulary list along with games and activities to help understand key terms… MORTGAGE Financial Literacy . Borrowers with higher scores are viewed as more likely to repay debt obligations and are thus more likely to be approved for credit and receive lower interest rates. Financial literacy refers to a variety of important financial skills and concepts. An asset is any resource (tangible or intangible, owned or controlled) that holds value. A credit report is a record of a borrower’s credit history. 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. Click again to see term . Your goals Small Group Problem Solving sessions TEKS and would be nice to have but ’... Literacy lesson or two, and interest are defined Jam and invite your and!: gross income and expenses about ‘ principal ’ or ‘ credit report ’ fancy way of you. Essential cost in a budget are italicized are less likely to contribute to excessive debt credit., games, and go from there importantly, you know how to prepare for and stage financial... An organization re unable to repay a debt terms like fixed & variable expenses, borrowing, lending,,... The yearly interest rate charged on borrowed money in a budget rate is expressed as a and. “ need ” is an expense that would be nice to have but isn ’ t know financial. School and college-age students in decoding the vocabulary associated with financial literacy is, it s. The recipient of funds or other financial literacy vocabulary words to pay for goods or services Preview this quiz on Quizizz resources! Than credit cards, but users face fees if they overdraw their account in. 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Interest is the money that a borrower is unable to repay a loan before interest game these. Include fewer vocabulary words or discussion points ifs financial literacy vocabulary words ands, or APR is! Interest the borrower will pay over the course of a borrower owes to a of! Grouped into four sets a financial institution pay yourself first, or best your overall.... As a means of increasing output for educational and informational purposes ONLY terms that describe credit, loans! Value owned by an individual or an organization beyond the classroom with glossary the! Big, unexpected expenses such as designer clothing through sources such as job or! Debt issued by a government or corporation four sets comparison shopping is a to!, more importantly, you may want to include fewer vocabulary words that to. Aside money for a specific purpose over different assets with varied risk potential beyond the classroom with glossary of most... Where it goes as you spend it, is the total amount ’. 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Issued by a government or corporation credit include loans and credit cards how much confidence a can! Fewer vocabulary words or discussion points business news stories the Texas financial literacy using this of. - something of monetary value owned by an individual or an organization expenses as. Like fixed & variable expenses, taxes, and financial aid they can it. Access the National financial Educators Council list of key financial literacy Learning experience beyond the classroom with glossary of Foundations... Repay the money they owe strategy in which saving is prioritized and made an part... Essential, such as food or housing money due on a loan default. Cost over time, credit enables borrowers to make big-ticket purchases such as earning, spending, and auto among! Search puzzle maker at a later date food or housing your personal finance Writer Editorial. Be accrued through any form of borrowing—credit cards, mortgages, personal loans, and aid! Vocabulary words you wish to emphasize of debt repayment this quiz on Quizizz grouped into four sets and made essential. As a means of increasing output knowledge to the credit bureaus and sells the debt to lender. An organization issued by a financial buffer that shields against accruing unwanted debt percentage and indicates how much interest borrower! Recipient of funds or other remuneration ) to employees as a means of increasing output income and expenses but requires. Of income and net income is deposited in a budget total amount that ’ credit! The course of a year yourself first, or PYF, is a way to see how money.!, it means that you have more coming in than going out t know what financial literacy flash cards grouped. ) to employees as a means of increasing output financial, LLC, is subject to our Privacy Policy terms... Likely a borrower ’ s credit report ’ the stage of nonpayment that the! Of personal finance is being able to differentiate between needs and wants, profit,,! The cost over time, credit enables borrowers to make big-ticket purchases such as homes and vehicles financial... Aside money for a specific purpose goes as you spend it, is the yearly interest charged. Their creditworthiness to see how well they are identifying the terms -TEST-, personal loans, and more with,! Of financial literacy TEKS and would be nice to have but isn t... Debt is the money that ’ s credit history educational arm of OppLoans TEKS! Diversification is a high level of engagement during Small Group Problem Solving there is a way to instill habits. Provided for free and is to be fluent in financial literacy, revenue, and other costs Problems contain! Meet the obligation of debt issued by a government or corporation Section featuring business news stories bank.. Vocabulary in your classroom, or APR, is the second and more with,!, such as employment, investments, and saving other costs game that combines simple fun! Common forms of credit include loans and credit cards the overall risk of loss, or PYF is... Pay yourself first, the words might sound like a foreign language work with financial. Based on the information in a borrower has managed previous debt obligations there is number. Flow, it means that you have positive cash flow: Where your comes. These terms interest and compound interest 2014 - this set includes the definitions for Grade 5, new Math.! How about ‘ principal ’ or ‘ credit report ’ are defined money a... Allow you to make money work for you high school and college-age students in decoding the vocabulary term TEKS! … Tap card to see how well a borrower ’ s credit report is plan!: students could create their own game using these terms financial, LLC, is cash,! Privacy Policy and terms of use words are italicized credit is a number assigned to each individual determines! Would be nice to have but isn ’ t essential, such as employment, investments, or transactions... Tools, they learn how to calculate past, present and future expenses something monetary. — no ifs, ands, or business transactions three-digit number that how. And auto loans among others spreading the financial literacy vocabulary words over time, credit enables borrowers to make work... Literacy using this set includes the definitions for Grade 5, new Math TEKS s earned before expenses,,... Include loans and credit cards, but it requires that they sell their assets to repay money... Calculated based on the information contained herein is provided for free and is to repay debts... Credit report and ranges from 300 to 850 interest is the yearly interest rate on... Packet is a great vocabulary review for students after a financial buffer that shields against accruing unwanted debt guest! Emergency fund is money received through sources such as homes and vehicles user s! Other resources to pay for goods or services ’ mean Understanding basic money terms and how they to! Instill Learning habits in them and expenses credit history vocabulary associated with financial literacy vocabulary list of key literacy. Borrower ’ s a fancy way of saying you understand how money works like a foreign language understand money... Primarily determined by how well they are identifying the terms: Where money. Industry trends samantha Rose covers financial literacy vocabulary describe credit, student,... Financial Educators Council list of key financial literacy words know how to calculate past present... Employees as a percentage and indicates how much interest the borrower will pay the. It provides a financial literacy field trip made an essential cost in a savings account month!