"That's great! So let us talk about some words related to finance. Example budget. A budget is an estimation of your income and expenses. It allows you to track and plan how you will spend your money, which can help you make financial decisions around paying off debt and saving for retirement." Vocabulary financial literacy / fai · nan · shl * li · tr · uh · see/ the ability to understand financial skills budget / ˈbəjət / n. an estimate of income and expenditure for a set period of time debt / det / n. money that is owed or due credit ...