Chapter 1 Dave Ramsey

Anything of value that is owned by an individual

• Asset

• Liability

A monthly plan for how you are going to save and spend your income.

• Budget

• Personal Finance

Interest paid on an investment and on any interest previously earned.

• Interest

• Compound Interest

A person or organization that purchases a product or service.

• Budget

• Consumer

The granting of a loan and the creation of debt.

• Credit

• Debt

An obligation to repay borrowed money.

• Debt

• Credit

The cost of goods and services

• Consumer

• Expense

The charge for borrowed money generally defined as a percentage; also, the earned interest on money you save or invest.

• Compound Interest

• Interest

Money put into an account intended for growth.

• Investments

• Expense

Anything you owe; a debt

• Liability

• Asset