Financial Character Vocab

How reliable you are in repaying debts

• Character

• Credit

• Debt

• Bad debt

Buying something you need now with a promise to pay later. Credit is also a measure of financial wellness.

• Character

• Credit

• Debt

• Bad debt

Money that is owed in return for a loan or a purchase.

• Character

• Credit

• Debt

• Bad debt

Debt that does not increase your net worth or help you earn more money.

• Character

• Credit

• Debt

• Bad debt

Debt that increases your net worth or how much money your worth and helps you earn more money. Ex student loans

• Good debt

• Creditworthy

• Net Worth

• Asset

How deserving you are of getting credit, according to companies that lend money

• Good debt

• Creditworthy

• Net Worth

• Asset

The total value of all your assets (things you own) minus all your liabilities (debts you owe).

• Good debt

• Creditworthy

• Net Worth

• Asset

Anything valuable that you own, such as money, a car, or a home.

• Good debt

• Creditworthy

• Net Worth

• Asset

Anything that you owe money on, such as a loan or credit card balance.

• Liability

• Capcity

• Credit Report

• Credit reporting companie

Your current financial situation and whether you have the resources to pay back a new loan

• Liability

• Capcity

• Credit Report

• Credit reporting companie