Personal Finance Final

All the financial decisions an individual or family must make in order to earn, budget, save, spend, and give money over time

• Personal Finance

• Bond

• Debt

• Consumer

A person or organization that uses a product or service

• Business

• Consumer

• Loan Shark

• Asset

Money owed to another person or company

• Loan

• Credit

• Debt

• Asset

An expression used to describe a person or household whose monthly income is devoted to expenses and has little to no savings

• Paycheck to Paycheck

• Bank

• Loan Shark

• Debt

The granting of a loan and the creation of debt; any form of deferred payment

• Interest Rate

• Loan Shark

• Credit

• Debt

 The percentage of principal charged by the lender for use of its money

• Interest

• Interest Rate

• Liability

• Net Worth

Person or entity that charges borrowers interest rates above an established legal rate

• Bank

• Loan Shark

• Asset

• Net worth

The additional cost a lender charges for borrowing their money

• Interest

• Interest Rate

• Financial Plan

• Positive Net Worth

A plan of action that allows a person to meet not only their immediate needs but also their long-term goals

• Loan Shark

• Net Worth

• Loan

• Financial Plan

The amount by which the value of a person’s assets exceeds or falls behind the value of their liabilities

• Budget

• Income

• Gross Income

• Net Worth