Personal Finance Vocabulary

Anything of value that is owned by an individual

• Asset

• Consumer

• Budget

• Interest

A monthly plan for how you are going to save and spend you income

• budget

• net worth

• Simple Interest

• Asset

an obligation to repay borrowed money

• credit
• loan
• debt
• asset

a person or organization that purchases a product or service

• interest

• client
• consumer
• renter

Anything you owe; a debt

• Liability

• Asset
• Credit
• Loan

the total value of a person's assets (things owned) minus their liabilities (things owed)

• Net worth

• Profit

• Income

• Assets

All the money decisions a person or family makes including earnings, budgeting, saving, spending, and planning for the future

• Personal finance
• Money planning
• Economic strategy
• Financial management

Interest paid only on the principal investment

• Amortized interest
• Compound interest
• Simple interest
• Accrued interest

interest paid on an investment and on any interest previously earned

• Simple interest
• Compound interest
• Accrued interest
• Interest rate

Money put into an account intended for growth

• Savings
• Investment
• Spending
• Donation