Personal Finance

Front

What are resources?

Back

Things that are produced and used.

Front

What is credit?

Back

Paying for something with money that is borrowed and must be paid back, usually with interest.

Front

What does it mean to purchase?

Back

To obtain by paying money for an item or a service.

Front

What does it mean to borrow?

Back

When another person gives you money that you will then need to pay back.

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What does it mean to lend?

Back

To let someone else use your money and they will need to pay you back.

Front

What is income?

Back

Money received, especially on a regular basis, for work or through investments.

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What is saving?

Back

Setting aside money for future use.

Front

What is interest?

Back

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

Front

What is a budget?

Back

A plan for how to spend and save money.

Front

What is a loan?

Back

Money that is borrowed and must be paid back with interest.