Ramsey Vocab CH 1

Front

Assets > Liabilities indicates:

Back

positive net worth :)

Front

Liabilities > Assets indicates:

Back

negative net worth :(

Front

Money owed to another person or company?

Back

Debt

Front

A person or entity that charges borrowers interest rates above the legal rate.

Back

Loan shark

Front

Additional cost to a lender for borrowing money, expressed as a percentage.

Back

Interest

Front

Cost of goods or money paid out

Back

Expense

Front

Financial debt or obligations

Back

Liability

Front

Anything owned by an individual, like money or investments.

Back

Assets

Front

A plan that meets immediate needs and long-term goals.

Back

Financial Plan

Front

Assets - Liabilities = Net _______

Back

worth