Introduction to Personal Finance

A fee you pay to borrow money

• credit
• loan
• interest
• debt

An obligation of repayment

• credit
• loan
• interest
• debt

A debt evidenced by a "note" which shows principal amount, interest rate, and date of repayment (ex: mortgage)

• credit
• loan
• interest
• debt

The granting of a loan, or creation of debt

• credit
• loan
• interest
• debt

A person or organization that buys/uses goods or services

• credit
• consumer
• interest
• debt

Which one of these is NOT a reason credit is marketed so heavily to consumers in the US

• There is a strong consumer demand for big ticket items (like houses, cars, tv's)
• The credit industry has become extremely profitable
• The use of credit is not socially acceptable

When it comes to managing money, success is 80% ________________

• behavior
• knowledge