Personal Finance Vocabulary Quiz

charge a consumer pays for making required minimum payment after the due date

• overdraft fee

• simple interest

• finance charge

• late fee

cost of goods/services that change from time to time

• variable expense

• fixed expense

• finance charge

• simple interest

money spent for goods/services

• expense

• fixed expense

• interest charge

• savings

cost of carrying a debt

• overdraft fee

• bankruptcy

• credit

• interest charge

annual rate charged for borrowing that represents actual yearly cost of funds over the term of a loan

• variable expense

• annual percentage rate

• budget

• principal

interest paid on original amount of loan

• overdraft fee

• collateral

• simple interest

• fixed expense

financial plan used to forecast & track expenses

• savings

• budget

• collateral

• emergency fund

money earned from job or other sources

• income

• expense

• simple interest

• savings

amount of money borrowed

• finance charge

• collateral

• principal

• expense

record of credit history

• budget

• income

• credit report

• collateral