Personal Finance (Unit 7)

Front

Which of the following things might you do when comparison shopping?
- Determine your budget
- Search store prices and try products
- Negotiate the price of a product
- Prioritize which features are most important to you

Back

Search store prices and try products

Front

What is a standard of living?

Back

The ability to provide for your needs and wants

Front

What is a warranty?

Back

A specific, written promise about product performance

Front

The total value of a person's assets minus their liabilities; may be a positive or negative dollar amount.

Back

net worth

Front

The first thing that you should save money for is a(n)

Back

emergency fund.

Front

In Terms of credit, what does APR stand for?

Back

Annual Percentage Rate

Front

This term refers to the original amount of a loan OR the original amount of money invested.

Back

Principal

Front

What is a credit score?

Back

A rating that reflects how likely you are to repay your debt.

Front

Coupons, "buy one get one free" deals, sales, and discounts are

Back

positive incentives encouraging people to spend money.

Front

Michael wants to develop a spending plan for himself to use during his final year of high school. What will he need to do as his first step?

Back

Track his current income and expenses