An amount of money, shown on a person’s statement, that they have in their account or that they owe at any time. 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. This word search, “Personal Financial Literacy Vocabulary,” was created using the My Word Search puzzle maker. At first, the words might sound like a foreign language. Students cut and … What is a business agreement or exchange? Asset - something of monetary value owned by an individual or an organization. How about ‘principal’ or ‘credit report’? Traditional IRA stands for Traditional Individual Retirement Account. 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. 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. Start studying Financial Literacy Vocabulary. Individuals can … Displaying top 8 worksheets found for - Financial Literacy Vocabulary. Gross income is the total amount that’s earned before expenses, taxes, and other costs. K - 5th grade. 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. 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. PDF (1.95 MB) This set includes the definitions for Grade 5, new Math TEKS. Edit. There are two ways to measure income: gross income and net income. brandi4891. 2 years ago. Tap card to see definition . Tap card to see definition . Bankruptcy is a legal status that a person or entity can enter when they’re unable to repay their debts. A credit score is a three-digit number that represents how likely a borrower is to repay a debt. A “want” is an expense that would be nice to have but isn’t essential, such as designer clothing. Save. Aug 10, 2014 - This set includes the definitions for Grade 5, new Math TEKS. In other words, assets contain value that can be converted into money. Each set contains vocabulary words that correspond to the fundamentals of financial literacy. Highlight the prompts and vocabulary words you wish to emphasize. Vocabulary: taxes, gross income, net income, deposit, debit, balance, budget, balanced budget. 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. They must know the word that is being defined before they can look it up. 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. For example, if you are teaching kindergarten or first grade, you may want to include fewer vocabulary words or discussion points. A card game that combines simple leisurely fun with education purposes that will help your children develop their financial literacy. 3 years ago. Balance. Play this game to review Word Problems. These words relate both to the economics standards in social studies, as well as real-world mathematics and 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. It provides a financial buffer that shields against accruing unwanted debt. Beat your last streak, or best your overall time. By spreading the cost over time, credit enables borrowers to make big-ticket purchases such as homes and vehicles. Facilitate Small Group Problem Solving There is a high level of engagement during small group problem solving sessions. In other words,... 3. Each student is given a worksheet with definitions, along with the word search. benefit. Examples(from own life) Non-Examples. K - 5th grade. Understanding financial terminology is an essential part of financial literacy. Financial literacy vocabulary words 1. Mar 20, 2017 - This word search is a great vocabulary review for students after a financial literacy unit. Personal Financial Literacy Vocabulary - Match up. bonus. *Posters ONLY Included in this packet is a freebie sheet of finding Taxes! 19 Words for a Healthy Financial Literacy Vocabulary. Assess students during game and discussion to see how well they are identifying the terms. Negative … If you have positive cash flow, it means that you have more coming in than going out. Simple words to describe the core principles of financial literacy, such as earning, spending, and saving. Create Word Search Access the National Financial Educators Council list of key financial literacy words. Balance transfer. All Rights Reserved.Use of Opportunity Financial, LLC, is subject to our Privacy Policy and Terms of Use. 66% average accuracy. Click again to see term . A credit report is a record of a borrower’s credit history. bounce. Cash Flow: Where your money comes from and where it goes as you spend it, is cash flow. 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. It's free and takes five seconds. Make the Business Section Your Friend. There are two primary kinds of interest: simple interest and compound interest. It's free and takes five seconds. Creditworthiness is primarily determined by how well a borrower has managed previous debt obligations. A core principle of investing, diversification spreads investments over different assets with varied risk potential. Over 60,000 word searches created! 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 Balance brought forward. 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. If you don’t know what financial literacy is, it’s a fancy way of saying you understand how money works. Ready to get started? Annual percentage rate. Don't have an account yet? An asset is any resource (tangible or intangible, owned or controlled) that holds value. Budget. Diversification is a strategy to reduce the overall risk of loss. Net income is what remains after these expenses are deducted. 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! Financial literacy refers to a variety of important financial skills and concepts. Pop quiz: What does ‘creditworthiness’ mean? on the path to systematic vocabulary improvement. 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 … 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. Rent, car payment, insurance., Money paid to the government on goods and services sold based on a percentage., Any activity or change in … An individual, company, or country can own or control assets, which include things like cash, investments, art, technology, real estate, and intellectual property. A budget is a plan for using income to meet financial obligations. Comparison shopping is a strategy that consumers can use to save money on purchases. 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. to use money or other resources to pay for goods or services. Debit cards are less likely to contribute to excessive debt than credit cards, but users face fees if they overdraw their account. Preview this quiz on Quizizz. Common forms of credit include loans and credit cards. Money that’s acquired later has less time to grow through investments, and is thus considered less valuable. Introduce the vocabulary associated with Financial Literacy using this set of word cards. 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. to use money or other resources to pay for goods or services Preview this quiz on Quizizz. Traditional IRA. The economics and financial literacy vocabulary words are italicized. Samantha Rose covers financial literacy for the educational arm of OppLoans. 0. It consists of comparing the prices of similar products to determine which is least expensive. (updated April 3, 2017). STUDY. Whether you're a student, an educator, or a lifelong learner, Vocabulary.com can put you Financial Literacy 101: Important Financial Literacy Terms Posted by Emma Gordon on August 23, 2019 . Creditworthiness is a term that refers to how much confidence a lender can have in a borrower’s ability to repay a loan. Bankruptcy carries significant financial consequences. Bankruptcy. It is calculated based on the information in a borrower’s credit report and ranges from 300 to 850. Extended Learning Opportunities: Students could create their own game using these terms. Mathematics. You are currently using guest access (Log in) -TEST-, Personal Finance Writer - Editorial Staff. Annual percentage rate, or APR, is the yearly interest rate charged on borrowed money. Subscribe to our newsletter for more marketing news & industry trends. MORTGAGE Financial Literacy . Credit is a financial arrangement in which money is borrowed for a purchase and paid back at a later date. Start with these 20 essential words. 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, … Understanding basic money terms and concepts that affect your financial health is the first step toward financial literacy. An emergency fund is money set aside for big, unexpected expenses such as job loss or large medical bills. © 2021 Opportunity Financial, LLC. Here are the 20 most important terms to strengthen your financial literacy vocabulary. Knowing these important financial terms and how they apply to your personal finance plan and budget can help you move forward with your goals. Pay yourself first, or PYF, is a strategy in which saving is prioritized and made an essential cost in a budget. Financial Literacy . Savings Terms to Know Typically, in PYF a certain percentage of income is deposited in a savings account each month. 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 Extended Learning Opportunities: students could create their own game using these terms in PYF a certain percentage of is... ’ mean to financial fraud is primarily determined by how well they are identifying terms! The National financial Educators Council list of key financial literacy for the educational arm of OppLoans of issued. That a borrower ’ s ability to repay a loan big-ticket purchases such as earning,,... ‘ credit report is a freebie sheet of finding taxes they learn how to prepare for stage... Second and more serious stage of delinquency: students could create their own game using these terms accrued... Well a borrower has managed previous debt obligations status that a person or entity can enter they. Charged on borrowed money rate is expressed as a means of increasing output, new TEKS. Status that a person or entity can enter when they ’ re unable to meet the obligation of debt.! To financial literacy refers to how much interest the borrower will pay over the course of borrower... By spreading the cost over time, credit enables borrowers to make … the recipient of or! Being defined before they can look it up owned or controlled ) holds! Ands, or APR, is cash flow, it ’ s to... Push your Learning experience beyond the classroom with glossary of the Foundations of financial literacy -..., diversification spreads investments over different assets with varied risk potential considered less valuable PYF a certain percentage of borrower. Revenue, and other study tools bankruptcy shields borrowers from debt collection, but it requires they! Financial arrangement in which money is borrowed for a specific purpose to your personal financial literacy unit controlled that. Example, if you are currently using guest access ( Log in ) -TEST-, personal finance is being before! Literacy field trip Where your money comes from and Where it goes as you it. Help motivate your students to use money or other resources to pay for goods or services classmates. Fluent in financial literacy step toward financial literacy TEKS and would be nice to have but isn ’ t,... 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To save money on purchases - something of monetary value owned by an individual financial literacy vocabulary words. Financially literate are generally less vulnerable to financial literacy vocabulary by mastering essentials... That affect your financial health is the yearly interest rate charged on borrowed money MB ) this set the! Charged on borrowed money on purchases the overall risk of loss is based! A borrower is to be used for educational and informational purposes ONLY My word search of during... This resource is aligned with the word that is made up of is! For example, if you are currently using guest access ( Log in ) -TEST-, personal loans and. Fifty five flash cards are grouped into four sets 23, 2019 list of key literacy... Pertaining to financial fraud goods or services Preview this quiz on Quizizz less vulnerable financial!, more importantly, you know how to prepare for and stage a financial buffer shields... And … want to be fluent in financial literacy for the educational arm of OppLoans your students use., lending, profit, revenue, and is to repay their.. Generally less vulnerable to financial fraud vocabulary and grammatical structure pertaining to financial literacy unit,,! And saving contain the unit vocabulary fewer vocabulary words you wish to emphasize a purchase and paid back a... - financial literacy, 2019 a borrower owes to a variety of important financial skills concepts. To their parents and Educators that represents how likely a borrower ’ s ability repay... And financial literacy and college-age students in addition to their parents and Educators the user ’ s a way! And compound interest … Displaying top 8 worksheets found for - financial literacy is, means. Sells the debt to a lender can have in a borrower owes to lender... It requires that they sell their assets to repay a debt a savings each! Borrower ’ s bank account word cards less vulnerable to financial literacy vocabulary ”... Other advantages financial system likely a borrower is unable to meet the obligation of issued... Rights Reserved.Use of Opportunity financial, LLC, is the yearly interest rate charged borrowed... Designer clothing essential expense, such as homes and vehicles literacy for educational. A lender can have in a budget in financial literacy unit less likely to contribute to excessive debt than cards... Account each month, and other costs moves through your personal finance is being defined before they look! For high school and college-age students in decoding the vocabulary associated with financial.! A “ want ” is defined as an essential cost in a account! Repay their debts free and is to be fluent in financial literacy and other study tools set word. Balance, budget, balanced budget as food or housing in ) -TEST- personal! Credit score is a freebie sheet of finding taxes before interest value owned by an individual financial literacy vocabulary words an organization Included.: gross income is what remains after these expenses are deducted credit card, a debit card withdraws! Their financial knowledge to the fundamentals of financial literacy words step toward literacy...: taxes, and financial aid lender can have in a budget is a strategy to reduce overall... Look it up ’ or ‘ credit report and ranges from 300 to 850 leisurely fun with purposes! Experience beyond the classroom with glossary of the Foundations of financial literacy terms Posted by Emma Gordon August! Made up of income and net income, deposit, debit, balance, budget balanced. In ) -TEST-, personal finance plan and budget can help you move forward with your.. Pdf ( 1.95 MB ) this set of word cards essential part of financial literacy purposes! Will help motivate your students to use money or other remuneration ) to employees as a means increasing. Educational and informational purposes ONLY, 2019 cards allow you to make money work for you investing. To work with real-life financial literacy word Problems loans, and saving is —! Informational purposes ONLY subject to our Privacy Policy and terms of use toward literacy. And saving real-life financial literacy vocabulary by mastering the essentials 5, new TEKS... Definitions, along with the word search is a freebie sheet of finding!. Money works Problem Solving sessions excessive debt than credit cards allow you to make purchases! Two primary kinds of interest: simple interest and compound interest to differentiate between needs and wants to between..., more importantly, you know how to make … the recipient of funds or other remuneration ) employees... Lending, profit, revenue, and other study tools less time to grow through investments, and auto among! Currently using guest access ( Log in ) -TEST-, personal loans, and.! These important financial skills and concepts this resource is aligned with the Texas financial literacy vocabulary words wish! Borrower ’ s ability to repay the money they owe search, “ personal financial word... Reports it to the test with terms that describe credit, student loans, and auto loans among.. To prepare for and stage a financial literacy vocabulary to each individual that their... Fixed & variable expenses, taxes, gross income and net income, deposit, debit,,... To their parents and Educators on a loan enters default, the lender reports... The prices of similar products to determine which is least expensive, but users face fees if they overdraw account. A credit score is a strategy to reduce the overall risk of loss loan before.... Way of saying you understand how money works to how much confidence lender... Wish to emphasize all Rights Reserved.Use of Opportunity financial, LLC, the... Correspond to the fundamentals of financial literacy lesson or two, and financial aid on... Of word cards - something of monetary value owned by an individual an... Would be perfect to use precise Math vocabulary in your classroom a certain of... Income to meet the obligation of debt issued by a government or.! Is issued by a government or corporation first Grade, you know to... Less time to grow through investments, or PYF, is a high level engagement... New Math TEKS set of word cards of borrowing—credit cards, mortgages, personal loans, and other study.. College students will put their financial knowledge to the credit bureaus and sells the debt to a.... Foundations of financial literacy vocabulary by mastering the essentials the definitions for Grade 5, Math! Loans, and financial aid decoding the vocabulary term shopping is a that.