Personal Finance Vocabulary Chapter 1

Savings

• the dollars that become available for investors to use when others save
• give away
• gambling
• money  stored in your sock drawwe

Interest

• payment made for the use of borrowed money
• show attention
•  financial plan of revenue and expendtitures
• total amount of money owed

debt

• total amount of money owed
• short term US government IOU for a period of years.
• a payment card issued to users as a method of payment
• payment made for the use of borrowed money

The physical form of money, such as coins or paper money.

SYNONYMS

money, currency, dough

• Cash

• Credit

• Check

• Debit

Answer explanation

When it comes to buying power, cash is always king.

What is money one earns through employment?

• Income

• Budget

• Credit

• Debt

What are bills you have to pay called in finance?

• Expenses

• Savings

• Credits

• Wages

What is an advantage of saving?

• You have money for emergency use

• You have money for retirement

• You avoid debt

• It takes time to save up money.

What is a mortgage?

• You can live in a house

• You pay it monthly

• You own it after finishing paying the agreed payments

• The payments can change slightly due to taxes and demand for housing.

Card that allows you to buy goods & services that you will pay for later

• Debit Card

• Expense

• Checking Account

• Credit Card

Account where you put money to be held for a long period of time.

• checking account

• savings account

• asset

• credit card