Financial Planning Unit 2

Front

The price paid for the use of another's money.

Back

Interest

Front

A _______________ is an account that earns interest.

Back

Savings Account

Front

Money received as a result of working is ______________.

Back

Income

Front

Money spent for something is an _________________ .

Back

Expense

Front

A ___________________ has a set amount every month and makes planning a budget easier.

Back

Fixed Expense

Front

Taking a loan to use someone else's money is _______________.

Back

Borrowing money

Front

______________ is revenue minus cost.

Back

Profit

Front

To provide money temporarily that must be paid back is ______________.

Back

Lending

Front

Which of the following best describes a budget? Options: A financial tool for consumers with little money, A plan for saving and spending money, A set of restrictions on how to spend money, A statement of your assets and liabilities

Back

A plan for saving and spending money

Front

What is the purpose of a balance sheet?

Back

To determine your net worth