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.
Turn definitions into financial literacy practice
Use our financial literacy for kids guide and public lesson library to connect these terms to saving, budgeting, earning, goals, taxes, investing, and family decisions.
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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Money Basics
VAT
Value Added Tax, a tax added to many goods and services.
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Banking
Withdrawal
Money taken out of an account.
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