Life Skills Ramsey Classroom Review 2024

Front

money owed to another person or company

Back

Debt

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

the additional cost a lender charges for borrowing their money

Back

Interest

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

Asset

Front

financial debts or obligations

Back

Liability

Front

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

Back

Net Income

Front

Paycheck to Paycheck

Back

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

Front

44% of Americans report they have less than $1,000 in savings

Back

True