Personal Finance Chapter 1 Lessons 1 & 2

All the financial decisions an individual or family must make in order to earn, budget, save, spend, and give money over time

A person or organization that uses a product or service.

Money owed to another person or company.

An expression used to describe a person or household whose monthly income is devoted to expenses and has little to no savings

The granting of a loan and the creation of debt; any form of deferred payment.

The percentage of principal charged by the lender for use of its money​​​​​​​.

Person or entity that charges borrowers interest rates above an established legal rate​​​​​​​.

The additional cost a lender charges for borrowing their money.