Saving and Budgeting Chapter 1

Anything of value that is owned by an individual

• Budget
• Liability
• Asset
• Consumer

A monthly plan for how you are going to save and spend your income.

• Budget
• Net Worth
• Expense
• The Five Foundations

Interest paid on an investment and on any interest previously earned.

• Compound Interest
• Simple Interest
• Debt
• Credit

A person or organization that purchases a product or service.

• Producer
• Consumer
• Behavior
• Nonprofit Organization

The granting of a loan and the creation of debt.

• Debit
• Credit
• Interest
• Budget

An obligation to repay borrowed money.

• Personal Finance
• Budget
• Debt
• Consumer

The cost of goods or services.

• Expense
• Behavior
• Scarcity
• Knowledge

The fee for borrowed money generally defined as a percentage; also, the earned interest on money you save or invest.

• Net Worth
• Interest
• Personal Finance
• Asset

Money put into an account intended for growth.

• Liability
• Debt
• Budget
• Investments

Anything you owe; a debt.

• Liability
• Interest
• Consumer
• Asset