Summit 1 Unit 3 Vocab 2

1. ___________ is someone who goes to extreme lengths to avoid spending money, often to the point of being miserly or unwilling to make reasonable expenditures.

• extravagant
• cheapskate
• generous
• spendthrift

1. _____________ is an individual who is inclined to spend money generously and often indulges in lavish or extravagant purchases, sometimes without much consideration for budgetary constraints.

• A miser
• A big spender

• A penny-pincher
• A frugal person

1. _____________ refers to a person who is reluctant to spend money, even when it is necessary or reasonable, and tends to be overly tight-fisted or miserly with their financial resources.

• extravagant
• spendthrift
• generous
• frugal or stingy

1. Being __________ means practicing careful and economical management of money, avoiding unnecessary expenses, and seeking value for every dollar spent.

• lavish
• thrifty

• extravagant
• spendthrift

1. __________________ is an objective or achievement that is set for an extended period, typically spanning several years, and requires sustained effort and planning to accomplish.

• Mid-term goal
• Short-term goal
• Immediate goal
• Long-term goal

1. _____________ is a specific and achievable target that is set to be accomplished in the near future, usually within days, weeks, or months.

• Long-term goal
• Mid-term goal
• Endless goal
• Short-term goal

1. ____________________ is an initial partial payment made when purchasing a large item or entering into a financial transaction, such as buying a house or a car. It is typically a percentage of the total cost.

• Down payment
• Up payment
• Side payment
• Under payment

1. ___________ is a sum of money borrowed from a lender with the expectation of repayment, usually with interest, over a specified period. Loans are commonly used for various purposes, including buying a home, starting a business, or funding education.

• Gift
• Investment
• Debt
• Loan

1. _______________ is a voluntary and typically philanthropic contribution of money, goods, or services to support a cause, charity, or organization without the expectation of receiving anything in return.

• Donation
• Payment
• Reimbursement
• Penalty

1. _____________ is an individual who actively seeks to promote the welfare of others by donating money, time, or resources to charitable causes with the aim of making a positive impact on society.

• Philanthropist
• Criminal
• Dictator
• Entrepreneur