Career, tech & modernGrades 7–12121 cardsFact-checked
Financial Literacy & Personal Finance Terms Flashcards
Personal finance terms for grades 7–12 — banking, credit, taxes, investing and insurance — each defined in one line, with a worked number where it helps.
Free to play in your browser — no account, no install. The first 30 cards are free forever. The deck opens with Budget, Income, Expense and Fixed expense and runs to 121 cards in all.
Flip freely. Nothing is scored — go round as many times as you like.
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Financial Literacy & Personal Finance Terms flashcards — the free 30
Every question and answer on the free cards, written out. Check them against your own textbook before you spend anything.
- Budget
- A plan for what money comes in and where it goes each month
- Income
- Money you receive — wages, tips, interest, gifts
- Expense
- Money you spend. Track it or a budget cannot work
- Fixed expense
- A cost that stays the same each month. Ex: rent of $900
- Variable expense
- A cost that changes month to month. Ex: petrol, groceries
- Discretionary spending
- Wants rather than needs — the first place to cut
- Surplus
- Income minus expenses when the answer is positive
- Deficit
- Spending more than you take in. Ex: $2,000 in, $2,300 out
- 50/30/20 rule
- A guideline: 50% needs, 30% wants, 20% saving and debt
- Pay yourself first
- Move money to savings before you start spending
- Opportunity cost
- The value of what you gave up to choose this instead
- Emergency fund
- 3–6 months of expenses kept liquid for job loss or repairs
- Liquidity
- How fast an asset turns into cash without losing value
- Net worth
- Assets minus liabilities. Ex: $12,000 − $9,000 = $3,000
- Asset
- Something you own with value — cash, a car, investments
- Liability
- Something you owe — a loan, a credit card balance
- Gross pay
- Your pay before any deductions come out
- Net pay (take-home pay)
- What lands in your account after deductions
- Deduction
- Money withheld from a pay cheque — tax, insurance, retirement
- Hourly wage
- Pay per hour worked. Ex: $16/hr × 20 hrs = $320 gross
- Salary
- A fixed yearly amount, paid in equal instalments
- Overtime
- Hours past the standard work week, paid at a premium rate — in the US, past 40 a week at 1.5×
- Commission
- Pay as a percentage of sales. Ex: 5% of $8,000 is $400
- Minimum wage
- The lowest hourly rate an employer may legally pay
- Benefits
- Non-cash compensation — health cover, leave, retirement match
- W-4 form
- US form telling an employer how much tax to withhold
- W-2 form
- US year-end statement of wages earned and tax withheld
- 1099 form
- US form reporting income paid to a contractor, not an employee
- Income tax
- Tax on money earned — in the US charged by the federal government and often by the state too
- Sales tax
- Tax added at purchase. Ex: 7% on $40 adds $2.80
Financial Literacy & Personal Finance Terms flashcards — questions people ask
- How many cards are in the Financial Literacy & Personal Finance Terms flashcard deck?
- The Financial Literacy & Personal Finance Terms deck on PuzzlePage has 121 cards. The first 30 are free to play and free to download with no account; the remaining 91 unlock for $2.99 as a one-time payment, or with the $11.99-a-month Study Pack that covers every deck on the site. 121 cards — the personal finance vocabulary a semester course covers. Beyond this you are into professional finance rather than classroom material.
- What is on the financial literacy & personal finance terms flashcards?
- Personal finance terms for grades 7–12 — banking, credit, taxes, investing and insurance — each defined in one line, with a worked number where it helps. Cards look like this: Budget → A plan for what money comes in and where it goes each month; Income → Money you receive — wages, tips, interest, gifts. The deck is written for grades 7–12 and filed under career, tech & modern.
- Can I study financial literacy & personal finance terms flashcards online for free?
- Yes. The first 30 cards of the Financial Literacy & Personal Finance Terms deck play free in any web browser at puzzlepage.app, with no account, no app and no card details. It works on a phone, tablet, Chromebook, laptop or classroom projector. Practice mode flips through the cards with nothing scored; quiz mode makes you answer each card before it flips, times the run and scores it.
- Are the financial literacy & personal finance terms flashcards accurate?
- Every card in the Financial Literacy & Personal Finance Terms deck was read and fact-checked by a subject-matter specialist before it went on sale, as was every other card on PuzzlePage — 5,420 cards across 30 decks. The audit found and fixed real defects, and one deck was withdrawn from sale entirely rather than shipped with a known problem. That is the difference from a user-generated flashcard site, where the cards are whatever a stranger typed and nobody is accountable for them.
- Can I print the financial literacy & personal finance terms flashcards?
- Yes. The Financial Literacy & Personal Finance Terms cards are available as a printable double-sided PDF to cut up, as well as playable in the browser. The first 30 cards are free to download; the full 121-card printable is included in the $11.99-a-month Study Pack.
- How should I use the Financial Literacy & Personal Finance Terms deck to revise?
- Start in practice mode and go through the Financial Literacy & Personal Finance Terms deck once without scoring, to find out which cards you already know — the deck is dealt in a different order every time you open it, so you are recalling the card rather than its position. Then switch to quiz mode, which times and scores the run and lets you re-run only the cards you missed. Use the "flip deck" control to swap which side is the question: recognising an answer is much easier than producing one, so a deck you find easy one way round is usually the harder and more useful drill the other way. Two or three short sessions across a week beat one long one, which is the whole reason flashcards work.
- What grade level are the financial literacy & personal finance terms flashcards for?
- The Financial Literacy & Personal Finance Terms deck is written for grades 7–12. Because the cards are plain term-and-answer pairs, they are also used outside that band — by adults revising career, tech & modern, and by teachers running them as a whole-class starter on a projector.