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Financial Glossary for Kids

Financial Glossary for Kids

  • Checking account – an account at a safe place, such as a bank or credit union, where money is kept and can be taken out as needed to cover expenses.

  • Credit – the ability to borrow money, up to a certain amount, such as through a credit card. 

  • Credit card – a plastic card allowing the cardholder to borrow money for purchases in exchange for interest charged against the card balance. 

  • Debt – money that is owed as a result of borrowing.

  • Debit card – a plastic card that uses the money in the cardholder’s checking account to fund transactions. 

  • Interest – the fee for borrowing money from a lender. 

  • Interest rate – the rate at which interest is charged or paid. 

  • Investment – an asset or share that is purchased in the hope of earning money, such as a real estate property or a piece of a company.

  • Loan – money borrowed from a bank, credit union or private lender. 

  • Mortgage – a loan that is used to buy a house. 

  • Savings account – an account at a bank or credit union to safely keep your money and let your savings grow.

  • Stock – ownership in a company that is sold to raise money. The stock rises in value when the company is doing well and the stockholder can then sell their stock to earn money.


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