Personal Finance 2

Front

The amount of money that you owe to lenders is called what?

Back

debt

Front

What does a person need to know to plan an effective budget? Options: his or her credit score, personal income, statewide interest rates, adjustable rate mortgages

Back

personal income

Front

When someone borrows a lender's money to make a purchase in exchange for paying that lender interest it is known as what? Options: credit, foreclosing, investing, savings

Back

credit

Front

What is a characteristic of an effective budget?

Back

Spending less than your income

Front

Retirement, college education, wedding, a nice trip, and a new truck are all what?

Back

reasons people save

Front

David wants to buy a new car. Since the car costs more than the amount of money he has, David pays for half of the car out of his savings account and borrows the rest. David now has what?

Back

debt

Front

What MOST affects your ability to borrow money?

Back

your credit score

Front

The amount of money you make each month is considered what? Options: credit, debt, income, interest

Back

income

Front

Barbara bought a $500 dress using her credit card. By the time she finished paying back the credit card company, Barbara paid $575 for the dress. The extra $75 was what?

Back

interest

Front

Having a budget, investing in the future, and staying out of debt are ways citizens ______________.

Back

manage their money wisely