C1 Personal Finance and You

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

• Personal-finance

• Impersonal-finance

• Consumer

Money owed to another person or company

• Consumer

• Rent and mortgage

• Debt

Financial debts or obligations

• Asset

• Asset plus liabilities

• Liabilities

• Liabilities plus assets

Having the knowledge and skills you need is a consumer to be able to manage your money well

• Brains

• Brains plus common sense

• Brains plus common sense and self-control

• Financial literacy

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

• Consumer portfolio

• Financial plan

• Financial portfolio

• Xylophone

A person organization that uses a product or service

• Personal-finance

• Spendthrift

• Consumer

The dollar of a person's assets is greater than the dollar value of their liabilities

• Positive net worth

• Net worth

• Negative net worth

• Laissez-faire economics

An expression used to describe a person or household whose monthly income is devoted to expenses and has little savings

• Negative net worth

• Paycheck to paycheck

• Flipped prescription

The cost of goods or services; money paid out

The additional cost a lender charges for borrowing their money