Fin. Lit. Exam Review Sem. 1

Asset - Debt

• Money

• Net Pay

• Gross Pay

• Wealth

Fee for using money (or something else)

• Debt

• Asset

• Interest

• Profit

Long-term goal (money collected for)

• Investment

• Savings

• Inflation

• Business

Objects that you own

• Interest

• Rate

• Asset

• Net Pay

Prices go up over a sustained period of time

• Debt

• Inflation

• Gross Pay

• Interest

Bouncing a check

• Overdraft

• Loan

• Credit

• Overcharge

When saving money, more is more

• Loan

• FAFSA

• Savings

• Interest Rate

Something of value offered for a secured loan

• Time

• Gross Income

• Debt

• Collateral

Loan that does not ask for collateral

• Unsecured

• Secured

• Fixed Rate

• Personal

Interest rate will NOT change

• Variable

• Fixed

• High Interest

• Market Value