Financial terms explained for kids.
Simple definitions for money, saving, budgeting, taxes, banking, investing, fraud awareness, and family finance.
Tip: use your browser search to quickly find terms like interest, budget, tax, bond, or treasury bill.
Earning
Allowance
Money a child receives regularly, often weekly or monthly.
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Banking
Balance
The amount of money available in an account.
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Banking
Bank Account
A safe place to keep and manage money.
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Investing
Bond
A way to lend money to a government or company for a period of time.
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Budgeting
Budget
A plan for how money will be used.
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Earning
Chores
Helpful tasks children do at home.
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Saving
Compound Interest
Interest earned on both original money and earlier interest.
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Banking
Debit Card
A card that lets someone spend money from an account.
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Banking
Deposit
Money added into an account.
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Earning
Earning
Getting money in exchange for work, value, or rewards.
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Saving
Emergency Fund
Money saved for unexpected needs.
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Budgeting
Expense
Money spent on something.
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Money Basics
Financial Literacy
Understanding how money works.
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Safety
Fraud
Dishonest behavior used to steal or trick people.
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Saving
Goal
Something someone plans and works toward.
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Earning
Income
Money received from work, business, rewards, or investments.
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Saving
Interest
Extra money earned or paid over time.
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Investing
Investment
Using money with the hope it grows over time.
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Budgeting
Needs and Wants
Needs are must-haves. Wants are nice-to-haves.
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Safety
Online Scam
A trick used online to steal money or private information.
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Safety
Privacy
Keeping personal information safe.
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Earning
Reward
Something received after effort or good progress.
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Investing
Risk
The chance that something may not go as planned.
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Saving
Saving
Keeping money for later instead of spending it now.
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Saving
Savings Goal
A target amount someone wants to save.
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Budgeting
Spending
Using money to buy something.
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Money Basics
Tax
Money people or businesses pay to the government.
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Banking
Transfer
Moving money from one account to another.
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Investing
Treasury Bill
A short-term way to lend money to a government and earn interest.
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Banking
Withdrawal
Money taken out of an account.
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