Basic FinLit Vocab

money that you borrow for something

• loan
• cash
• lender
• savings
• incentive

a person, company, bank, etc that lets you borrow money  

• lender
• loan
• incentive
• mortgage
• credit card

the extra fee charged for borrowing money, or the cost of borrowing money

• interest
• debt
• incentive
• installment
• financing

money you borrow to buy a car

• car loan
• student loan
• mortgage
• personal loan
• loan

money you borrow to pay for college

• student loan
• car loan
• mortgage
• personal loan
• loan

money you borrow for any personal reason (vacation, etc)

• personal loan
• student loan
• mortgage
• car loan
• loan

money you borrow to buy a house

• mortgage
• student loan
• car loan
• personal loan
• loan

the amount of money you owe

• debt
• student loan
• mortgage
• personal loan
• car loan

a card that deducts money directly from your bank account (also called a check card)

• debit card
• credit card
• check
• financing
• cash

a slip of paper that someone can take to a bank to receive a specific amount of money from your bank account

• check
• debit card
• credit card
• loan
• cash