Unit 2 Vocab

All the financial decisions an individual or family must make

• personal finance

• financial literacy

• debt

• liability

A person who uses products or services

• credit

• interest

• loan shark

• consumer

money owed to a person or company

• asset

• debt

• credit

• liability

the granting of a loan and the creation of debt

• asset

• debt

• credit

• liability

the percentage charged by the lender for its money

• interest rate

• interest

• net income

• expense

a person who lends money at illegally high interest rates

• consumer

• loan shark

• expense

• interest

the amount by which a person's assets exceed or fall behind the value of their liabilities

• net worth

• net income

• interest rate

• expense

anything owned by an individual

• things

• stuff

• asset

• liability

a financial obligation or debt

• cost

• thing

• asset

• liability

what a person earns after taxes and other deductions

• net worth

• net income

• nothing but net

• network