Financial Literacy Ch 7 Vocabulary Review

Front

The process of making choices that reflect goals by considering all of the pros and cons along with the costs.

Back

systemic decision making

Front

Being able to meet your financial goals through planned earning, spending, and saving.

Back

financial responsibility

Front

Failing to live up to your financial obligations to meet your goals and needs.

Back

financial irresponsibility

Front

An organized method for making good buying decisions.

Back

buying plan

Front

Standards or rules by which something is judged.

Back

criteria

Front

The maximum amount you are willing to pay for an item.

Back

spending limit

Front

A refund of part of the purchase price of an item.

Back

rebate

Front

Additional coverage that you can buy to pay for repairs or replacements needed beyond the original warranty period.

Back

extended warranty

Front

The ability to borrow money and pay it back later.

Back

credit

Front

Money that must be repaid.

Back

debt