Fin Lit 1

A person who purchases goods and services for personal use

• loan shark

• Financial Plan

• Consumer

• Behavior

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

• Behavior

• loan shark

• Interest Rate

• Personal Finance

The price paid for the use of borrowed money

• Assets

• Interest

• Interest Rate

• net worth

Definition: assets minus liabilities

• Behavior

• net worth

• Interest

• Interest Rate

Definition: an obligation to pay or do something

• Negative Net Worth

• Credit

• Interest

• Debt

Definition: Percentage rate used to calculate interest

• Interest Rate

• Negative Net Worth

• loan shark

• Interest

Definition: knowledge and skills to manage your personal finances.

• Interest

• Personal Finance

• Financial Plan

• Interest Rate

Definition: All of the decisions and activities of an individual or family regarding their money.

• Paycheck to Paycheck

• Personal Finance

• Positive Net Worth

• loan shark

Definition: an expression used to describe a person or household whose monthly income is devoted to expenses and has little to no savings.

• Paycheck to Paycheck

• Personal Finance

• Negative Net Worth

• Positive Net Worth

Liabilities are larger than assets

• Personal Finance

• Interest Rate

• Positive Net Worth

• Negative Net Worth