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Personal Finance and Literacy

Lending / Lend / Lent ( Past tense) providing others with money or goods now that will be returned or paid back in the future
Producer people who make goods or provide services
Consumer someone who buys goods or services. A Customer.
Borrowing receiving money or goods now that will be returned or paid for in the future
Balance the amount of money that is in a bank account after a deposit or withdrawal
Deposit money put into a safe place
Interest earned money received for saving money in a bank account
Saving setting aside money earned or received for future use
Spending purchasing goods and services to satisfy wants and needs
Withdrawls money taken out
Decreases getting smaller in amount or value
Increases getting larger in amount or value
Bank Account An account used to deposit money at a bank or credit union. Money can be added or removed from the account by visiting the bank or writing a check
Allowance Money given to a child on a regular basis. The money may be designated for a specific purpose or to spend as the child chooses. In some cases, the money is tied to the completion of household chores.
Responsible Borrowing being able to pay it back.
Irresponsible Borrowing not being able to pay it back.
Created by: nphillips