A creditor's evaluation of a person's willingness and ability to pay debts as judged by character, capacity, and capital; a mathematical model used by lenders ...
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What is the term for financial education?
Financial literacy = basic financial knowledge, including an understanding of banks and the banking system, financial markets, credit and credit cards, and tax laws, as well as the ability to apply this knowledge in making decisions on how to spend, earn, or save money today to build wealth for tomorrow.
What are some of the key vocabulary words for financial literacy?
Financial literacy vocabulary words
Annual percentage rate. Annual percentage rate, or APR, is the yearly interest rate charged on borrowed money. ...
Asset. An asset is any resource (tangible or intangible, owned or controlled) that holds value. ...
Bankruptcy. ...
Budget. ...
Comparison shopping. ...
Credit. ...
Credit report. ...
Credit score.
What are the 4 main financial literacy?
Financial literacy is having a basic grasp of money matters and its four fundamental pillars: debt, budgeting, saving, and investing. It's understanding how to build wealth throughout one's life by leveraging the power of these pillars.
What are the 3 keys to financial literacy?
Three Key Components of Financial Literacy
An Up-to-Date Budget. Some tend to look at the word “budget” as tantamount to the word “diet,” but at its most basic, a budget is just a spending plan. ...
Dedicated Savings (and Saving to Spend) ...
ID Theft Prevention.
Jul 27, 2023 · Financial literacy vocabulary words · 1. Annual percentage rate · 2. Asset · 3. Bankruptcy · 4. Budget · 5. Comparison shopping · 6. Credit · 7.
This glossary contains terms you may find useful when teaching youth financial literacy. These terms are used throughout the classroom activities and can ...
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Study with Quizlet and memorize flashcards containing terms like Financial opportunity, Rate of return, Investment and more.
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Net Worth – What people should use to measure how financially successful they are. The sum of your assets minus your liabilities. What you own, minus what you ...
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Teaching financial literacy in elementary involves a lot of new vocabulary for students to become familiar with. Create a financial literacy word wall in your ...
Dec 8, 2021 · 23 common financial literacy terms and definitions · Bank · Borrow · Borrower · Budget · Capital gain · Collateral · Credit · Credit score.
Study with Quizlet and memorize flashcards containing terms like Charitable donation, Fixed Income, variable income and more.
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This comprehensive financial literacy and economic education website will help teachers, students, and parents gain extensive access to original lesson ...
Jan 3, 2018 · 19 Words for a Healthy Financial Literacy Vocabulary · 1. Budget · 2. Credit Score · 3. Credit Report · 4. Checking Account · 5. ACH Transfers.
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