Personal Finance Study Guide

Front

All the financial decisions an individual or family must make in order to earn, budget, save, spend, and give money over time

Back

Personal Finance

Front

Money owed to another person or company

Back

Debt

Front

An expression used to describe a person or household whose monthly income is devoted to expenses and has little to no savings

Back

Paycheck to Paycheck

Front

The granting of a loan and the creation of debt; any form of deferred payment

Back

Credit

Front

The percentage of principal charged by the lender for use of its money

Back

Interest Rate

Front

A plan of action that allows a person to meet not only their immediate needs but also their long-term goals

Back

Financial Plan

Front

The amount by which the value of a person’s assets exceeds or falls behind the value of their liabilities

Back

Net Worth

Front

Anything that is owned by an individual, including money in the bank or investments

Back

Assets

Front

Financial debts or obligations

Back

Liabilities

Front

What a person earns after payroll taxes and other deductions are taken out; often referred to as take-home pay

Back

Net Income