Vocab Ch. 1

Front

Expression for a person/household with income spent on expenses and little to no savings.

Back

Paycheck to Paycheck

Front

Money owed to another person or company

Back

Debt

Front

A person or organization that uses a product or service.

Back

Consumer

Front

Financial decisions for earning, budgeting, saving, spending, and giving money.

Back

Personal Finance

Front

Granting a loan and creating debt; any form of deferred payment.

Back

Credit

Front

Percentage of principal charged by lender for money use

Back

Interest Rate

Front

Entity charging borrowers above legal interest rates

Back

Loan Shark

Front

Additional cost a lender charges for borrowing money

Back

Interest

Front

The amount by which a person's assets exceed or fall behind their liabilities.

Back

Net Worth

Front

Plan of action for immediate needs and long-term goals

Back

Financial Plan