Financial Literacy

A plan for how to spend and save money

A loan from a bank

A list of things you want to buy

A type of bank account

Expenses that change every month

Expenses that remain the same each month

Unexpected costs

Money set aside for savings

50%

10-20%

5%

30%

Buying luxury items

Covering unexpected expenses like medical bills or car repairs

Investing in stocks

Paying regular monthly bills

Needs are essential for survival; wants are things you desire but can live without

Needs are always more expensive than wants

Wants are things you must have to live

There is no difference

To spend money easily

To earn interest and save money safely

To take out loans

To buy stocks

Savings account

Checking account

Fixed deposit account

Investment account

A reward given by the bank for saving money

A penalty for spending more money than is in your account

A tax on large deposits

A bonus for using a debit card frequently

It allows you to manage your finances from anywhere

It provides free money

It eliminates all banking fees

It prevents all fraud and theft

A penalty for withdrawing money

A reward for keeping money in the account

A tax imposed by the government

A one-time fee for opening an account