Money Matters - FINAL EXAM

A person or organization that buys/uses goods or services

• Consumer
• Economy
• Interest
• Creditor

The knowledge and skillset necessary to be an informed consumer and manage finances effectively

• Consumer
• Economy
• Financial Literacy
• Creditor

The granting of a loan and the creation of a debt: any form of deferred payment

• Consumer
• Economy
• Financial Literacy
• Credit

A debt evidenced by a “note,” which specifies the principal amount, interest rate and the date of repayment

• Loan
• Economy
• Financial Literacy
• Credit

An obligation of repayment owed by one party (debtor/borrower) to a second party (creditor/lender)

• Loan
• Economy
• Debt
• Credit

A fee paid by a borrower to the lender for the use of borrowed money

• Loan
• Interest
• Debt
• Credit

A fee paid by a borrower to the lender for the use of borrowed money

• Loan
• Interest
• Debt
• Credit

A system by which goods and services are produced and distributed

• Loan
• Interest
• Debt
• Economy

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

• Personal Finance
• Interest
• Debt
• Economy

The five steps to financial success

• Emergency Fund
• The Five Foundations
• Interest Bearing Account
• Sinking Fund