Financial Definitions TEST

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Debt

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Definition: something, typically money, that is owed or due.

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Salary

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The money paid for employee services.

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Credit Card

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A plastic card used to make purchases now and pay for them later.

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Personal Finance

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All of the decisions and activities of an individual or family regarding their money, including spending, saving, budgeting, etc.

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Deposit

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Definition: to put money into an account.

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Interest

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The cost of borrowing money, usually expressed as a percentage of the amount borrowed.

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Expenses

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The costs incurred in the process of earning revenue.

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Credit Score

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A numerical expression based on a level analysis of a person's credit files, representing the creditworthiness of that person.

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Mortgage

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A loan specifically for purchasing real estate, where the property serves as collateral.

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Withdrawal

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Definition: to take money out of an account.