It may be troublesome for college kids—and even some adults—to really feel assured of their understanding of funds. In spite of everything, cash is usually a supply of stability, but it surely will also be anxiety-inducing when an individual doesn’t really feel financially literate or in management. However it doesn’t must be that manner! These monetary literacy vocabulary phrases together with our free Jeopardy-style sport are the right stepping stones into any monetary literacy lesson.
By instructing college students about how cash works early on, they’re extra more likely to mature into financially safe and accountable adults. That’s why we’re right here that will help you break down important monetary vocabulary into digestible items—after which make it enjoyable with a sport!
Monetary Literacy Vocabulary Phrases
This listing of phrases will be useful for college kids to get a deal with on phrases they could hear in real-life eventualities or in upcoming classes. They’re all included in our free Jeopardy-style sport!
Fundamentals
- Earnings: Cash you earn from working or from belongings you personal that become profitable, like a enterprise.
- Expense: Cash you spend on belongings you want or need, like payments or snacks.
- Curiosity: Extra cash you pay whenever you borrow cash, or cash you earn from saving it, normally proven as a proportion.
- Debt: Cash you owe since you borrowed it and have to pay it again.
- Bank card: A fee sort that creates a mortgage, that means it’s important to pay again the acquisition quantity plus curiosity at a later time.
Banking
- Checking account: A checking account that enables quick access to funds for on a regular basis transactions.
- Financial savings account: A checking account that earns curiosity over time and is often used for storing cash that you just’re not going to make use of straight away.
- Overdraft: Happens when cash is withdrawn from a checking account and there are usually not ample funds to cowl it.
- Direct deposit: The digital switch of a fee, usually a paycheck, instantly from the payer’s account to the recipient’s account.
- Mortgage: Cash that you just borrow and must pay again later, normally with more money on prime referred to as curiosity. An instance of this can be a mortgage.
Investing
- Inventory: A small unit of possession of an organization; when the corporate makes or loses cash, you can also make or lose cash.
- Dividend: The identify for a distribution of income by an organization to people who personal that firm’s inventory.
- Portfolio: A set of all of the completely different investments (like shares and bonds) that somebody owns.
- Bond: A technique to lend cash to an organization or the federal government, who guarantees to pay you again with some more money later. That is usually a low-risk funding.
- Mutual fund: A gaggle of various investments that folks put their cash into collectively. Specialists handle it to assist the cash develop, and it’s thought-about to be much less dangerous than investing in a singular inventory.
Taxes
- Tax: Cash that the federal government expenses individuals to pay for issues like faculties, roads, and public companies.
- Earnings tax: A sort of tax that you just pay on the cash you earn from working.
- Tax deduction: An expense that may decrease the quantity of revenue that it’s important to pay taxes on, so that you pay much less in taxes.
- Tax credit score: An sum of money that’s subtracted from the quantity you owe whenever you file your taxes.
- Withholding: Cash that’s deducted out of your paycheck earlier than you obtain it to robotically pay for issues like taxes.
Get Our Free Jeopardy-Model Sport!
Your college students will get pleasure from taking part in this Jeopardy-style sport the place they’ll work collectively to guess the vocabulary phrases from supplied clues. It’s a terrific kickoff to any sort of monetary literacy studying to get some primary understanding of terminology.
How To Use the Sport
This monetary literacy vocabulary sport is obtainable on Google Slides and is ideal for classroom use!
- Divide your class into groups to compete within the Jeopardy-style monetary literacy sport.
- The groups will take turns deciding on classes with some extent worth after which work collectively to decide on the right time period that matches the clue. Set a time restrict to provide their response if wanted.
- Use the optionally available phrase financial institution for every class to provide college students a touch. Or ditch the phrase financial institution to make it more difficult!
- Add up factors for appropriately answered questions on the board, and you should definitely cross out the classes that have been already used.
