The granting of a loan and the creation of debt; any form of deferred payment

An obligation of repayment owed by one party (the debtor/borrower) to a second party (the creditor/lender); in most cases this includes repayment of the original loan amount plus interest (When one person owes another person money and has responsibility to pay it back)

A system by which goods and services are produced and distributed

The knowledge and skills necessary to be an informed consumer and manage finances effectively

A fee paid by a borrower to the lender for the use of borrowed money; typically interest is calculated as a percentage of the principal (original loan amount)

A debt evidenced by a "note," which specifies the principal amount, interest rate, and date of repayment

All of the decisions and activities of an individual or family regarding their money, including spending, saving, budgeting, etc.