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15 Cards in this Set
- Front
- Back
- 3rd side (hint)
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Personal Finance
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Refers to all the financial decisions an individual or family must make in order to earn, budget, save and spend money over time.
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Average credit card debt
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$15,799
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Average mortgage debt
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$149,667
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Average student loan debt
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$32,559
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Average car loan debt
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$13,125
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When it comes to managing money, success is about__1__% head knowledge and __2__% behavior.
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1) 20% 2) 80%
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Consumer
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A person or organization that buys/uses goods or services.
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Financial Literacy
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The knowledge and skillset necessary to be an informed consumer and manage finances effectively.
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Credit
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The granting of a loan and the creation of debt; any form deffered payment.
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Loan
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A debt evidenced by a "note," which specifies the principal amount, interest rate and date of repayment
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Ex: house mortgage
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Debt
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An obligation of repayment owed by one party (debtor/borrower) to a second party (creditor/lender).
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Interest
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A fee paid by a borrower to the lender for the use of borrowed money.
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Economy
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A system by which goods and services are produced and distributed.
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Money personalities
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1) Frustration
2) Role models 3) Pragmatic 4) Money isn't everything |
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New Deal Policy
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Came up with mortgages (FDR)
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