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12 Cards in this Set
- Front
- Back
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All of the decisions and activities of an Individual or family regarding their money, including spending, saving budgeting, etc. |
Personal finance |
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A fee paid by a borrower to the lender for the use of borrowed money? |
Interest |
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An obligation of repayment owed by one part (debtor/borrower) to a second party (creditor/lender) is what? |
Debt |
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A person or organization that buy/uses goods or services is... |
Consumer |
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The granting of a loan and the creation of a debt; any form of deferred payment... |
credit |
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the system by which goods and services are produced and distributed |
economy |
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the knowledge and skillset necessary to be an informed consumer and manage finances effectively |
financial literacy |
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a debt evidenced by a "note", which specifies the principal amount, interest rate and date of repayment(example:house mortgage) |
Loan |
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Learn the language of money is not that important because you will able to depend on financial planners to manage your money |
false |
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which of the following is NOT a reason credit is marketed so heavily to consumers in the United State... |
The use of credit is not socially accepted in the U.S. |
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During the Great Depression, New Deal policy makers came up with mortgage (home loans) and consumer lending policies that convinced commercial banks that: |
Consumer credit could be profitable |
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When it comes to managing money, success is about_____% head knowledge and _______% behavior. |
20,80 |
