Financial Literacy Vocabulary

A set of vocabulary flashcards covering basic financial literacy terms, investment types, and debt categorization based on the provided summary sheet.

SMART Goals

Goals that are Specific, Measurable, Achievable, Relevant and Time-bound.

Budgeting

A plan for how you will earn, spend and save your money.

Investing

Using money to buy assets that may increase in value or earn income over time.

Dividends

Payments made to shareholders from a company's profits.

Gross Pay

Total amount before any deductions.

Net Pay

Total amount after all costs or deductions.

Savings Account

A bank account where you store money and earn interest while still being able to access it.

Term Deposit

A bank account where money is locked away for a set period and earns a fixed interest rate.

Shares

Buying part ownership of a company.

Managed Fund

Where your money is combined with other people’s money and invested by an expert in a range of different investments.

Property

Buying land or buildings as an investment.

Superannuation

Money saved during your working life to provide income in retirement.

Debit Card

A card that spends money directly from your bank account.

Credit Card

A card that lets you borrow money from a bank and repay it later.

Buy Now Pay Later (BNPL)

A payment service that lets you buy something now and pay it off in instalments.

Good Debt

Borrowing money to build wealth or improve your future; often considered an investment in your future (e.g., home loan, education loan).

Bad Debt

Borrowing money for things that lose value or are unnecessary; usually doesn't provide long-term financial benefits (e.g., credit card debt for clothes).