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Personal Finance:)

Final Exam

interest includes: getting paid for doing a job;earning interest from a savings account;making profit from an investment
things that you want but don't need luxuries
helps you spend money more wisely budget
setting aside a small amount of money each week can lead to... eventually having money built up in savings
what are 2 goals of saving money buying things that you dont have the money for right now;so that you will have enough money to retire
examples of long term savings goals college;house;car;retirement
examples of credit credit card;car loan;home loan
to spend money with the hopes of making more money in the furture that what you spent originally investing
borrowed money credit
what are the keys to success in personal finance have a monthly budget;never borrow money that you cannot pay off in a reasonable amount of time;establish short, medium, and long term finance goals
important financial responsibility for every adult to control and understand personal finance
a fee paid for borrowing money;money or fee that a bank pays to use money deposited by its customers interest
the current rate of interest that a bank pays its customers is... 1 to 3%
the largest financial investment that most people make in their lifetime is.... a house
the amount of money that you receive or earn during a specific period of time income
when you create a budget, the items that you have to spend money on are... expenses
a positive cash entry to your account debit
what is the advantage of having a savings account over a checking account savings accounts usually earn s higher rate of interest thatn a checking account
when is it a good time to borrow money when interest rates are low;need to have a stable job so you can repay the loan;when a person wants to purchaser an expensive item;when a person has a good credit rating
what si true about buying things with credit credit is useful for buying very expensive things such as cars, homes, furniture, appliances
what do stocks, bonds, mutual funds, and certificates of deposit have in common they are all ways to invest extra money
Created by: EmCat