Savings Review

How quickly and easily assets can be accessed and converted into cash.

• Interest

• Liquidity

• Goal

• Interest

The portion of current income not spent on consumption.

• Interest

• Savings

• Wealth

• Liquidity

The price of money

(a)  

Everything an individual or household owns with monetary value.

• Assets

• Liability

• Owner's Equity

• Wealth

Wealth is a measurement of how much a person or household owns once all debts have been paid.

• True

• False

The percentage rate paid on money invested or saved.

(a)  

Principal is the original amount of money saved or invested.

• True

• False

The end result of something a person intends to acquire, achieve, do, reach, or accomplish is know as a Goal.

• True

• False

A saving strategy that states to set aside a predetermined portion of money for saving each time a person is paid before using any of the money for spending is called? (3 word answer)

(a)  

A trade off is NOT considered giving up one thing for another.

• True

• False