Personal Finance Flashcard

Front

What is the cost of using money?

Back

Interest

Front

Which savings option is best for someone new to earning money and saving with limited funds?

Back

Savings Account

Front

How is an advertisement different from a comment from a regular consumer?

Back

The advertisement is likely one-sided.

Front

What is an unanticipated expense that makes it difficult to get by day-to-day a candidate for?

Back

Emergency fund spending.

Front

What is a benefit of using credit cards for purchases?

Back

Credit cards come with fraud protection.

Front

What is a risk associated with using credit cards?

Back

Credit card numbers can be copied by identity thieves.

Front

What is a Savings Account?

Back

A bank account that earns interest on deposits and allows for easy access to funds.

Front

What is an Emergency Fund?

Back

Savings set aside to cover unexpected expenses.

Front

What is the purpose of a Credit Report?

Back

A record of an individual's credit history used by lenders to assess creditworthiness.

Front

What does APR stand for?

Back

Annual Percentage Rate, the annual rate charged for borrowing or earned through an investment.