Personal Finance Vocabulary

These amounts change based on a person's needs or wants

• Fixed Expenses

• Loan

• Variable Expenses

• Profit

Money that is left after all expenses are subtracted from the amount of money received from selling an item or a service.

• Profit

• Loan

• Variable Expenses

• Financial Institution

These occur regularly and the amount does not change.

• Variable Expenses

• Loan

• Fixed Expenses

• Interest

Organized plan for spending and saving money.

• Loan

• Budget

• Profit

• Variable Expenses

The cost of borrowing money.

• Interest

• Loan

• Budget

• Fixed Expenses

Keeps money safe, lends money, and borrows money

• Budget

• Interest

• Financial Institution

• Loan

Money that people can borrow from a financial institution.  It must be paid back with interest.

• Budget

• Loan

• Profit

• Interest