A person or organization that uses a product or service

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.

A system by which goods and services are produced and distributed

The knowledge and skillset 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 it 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.

Interest paid on the principal plus the interest previously earned; credited daily, monthly, quarterly, or semiannually

Five hundred dollars (or 3-6 months of income) in readily available cash to be used only in the event of an emergency; the goal of the First Foundation

Percentage paid to a lender for the use of borrowed money (in debt); percentage earned on invested principal (in investing).

The five steps to financial success.

Saving money over time for a large purchase.

A written cash flow plan

A summary statement that shows total income and spending for a given time period

A copy of each check you write

Series of envelopes that are divided into categories (food, entertainment, gas, etc.) and are used to store cash for planned monthly expenses.

An item that is bought without previous planning or consideration of the long-term effects.

To match your bank statement with your checkbook

A cash flow plan that assigns an expense to every dollar of your income, wherein the total income minus the total expenses equals zero.

A yearly ​fee that's charged by the credit card company for the convenience of the credit card

The cost of borrowing money on an annual basis; takes into account the interest rate and other related fees on a loan.

An interest rate charged to a customer during the early stages of a loan; the rate often goes up after a specified period of time.

The time frame that a loan agreement is in force, and before or at the end of which the loan should either be repaid or renegotiated for another term.

A type of card issued by a bank that allows users to finance a purchase.

A type of card issued by a bank that allows users to finance a purchase.

A detailed report of an individual's credit history.

A measure of an individual's credit risk; calculated from a credit report using a standardized formula.

Preferred method of debt repayment; includes a list of all debts organized from smallest to largest balance; minimum payments are made to all debts except for the smallest, which is attacked with the largest possible payments.

A decrease or loss in value.

An expense, such as a charitable contribution, that can be deducted from one's taxable income.

A form that is completed annually by current and prospective college students to determine their eligibility for financial aid.

A form of federal or state financial aid that does not need to be paid repaid; usually given to students who demonstrate financial need.

A form of financial aid that does not need to be repaid; usually awarded on the basis of academic, athletic, or other achievements.

A program that allows students work part time while continuing their studies.

The promotion of a product or service by identifying it with distinct characteristics (usually associated with public perception, quality or effectiveness)

Refers to the public's ability to recall and recognize a brand by its logo, jingles, packaging, etc.

Feeling regret or concern after making a large purchase.

Latin term for "buyer beware"

To buy an item with credit; paying over time

The process of communicating the value of a product or service to customers.

Refers to the financial opportunity that is given up because you choose to do something else with your money.

An amount of money you spend, usually $300, that causes you some pain to part with

The specific amount of money that you pay when insurance only covers a portion of costs is called a

Any income (wages/salary) that is generated by working

Money earned on a regular basis with little or no effort required to maintain it.

Income generated by selling an investment at a higher price than you paid for it.

Income generated by selling an investment at a higher price than you paid for it.

A federal insurance program funded by taxpayer dollars that provides benefits to people who are retired, unemployed or disabled

The process by which we "market" ourselves to others; involves highlighting personal strengths, interests and unique qualities and identifying goals

Tax paid out by anyone who earns an income

Taxes paid by anyone who owns property such as land, a home, or commercial real estate.

Tax on goods and services that goes to your state or local government

A brief account of one's professional or work experience and qualifications, often submitted with an employment application

Traits or qualities that represent an individual's highest priorities, deeply held beliefs and motivating forces; one's guiding principles

Anything handed down from the past; something that someone has achieved that continues to exist after they are gone

Organizations that use money raised to achieve their goals rather than distributing them as profit.

Means "love of humanity"; identifying and exercising one's values in giving and volunteering