Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Personal Finance
| Term | Definition |
|---|---|
| bills or costs we pay every month based upon our level of use or need | variable expenses |
| something spent, or required to be spent | expenses |
| a list of all of your expenses and income | budget |
| Bills such as house payments that expenses that are necessary, not a choice | fixed expenses |
| Money that is owed and it accumulates when expenses are higher than the income | debt |
| Expenses for non-essential items that we could live without, a choice | discretionary expenses |
| the positive influences in your life and anything else that will help you to reach your goals | assets |
| Money earned | income |
| obstacles that discourage you or hold you back from meeting your goals | liabilities |
| occurs when the money that you have is greater than the expenses for an individual | savings |
| to take money out of an account | withdraw |
| to put money into an account | deposit |
| when a deposit is made it shows up as this on your statement | credit (in an account) |
| when a withdrawal is made it shows up as this on your statement | debit |
| a monthly payment to pay back money borrowed on your house loan | mortgage |
| payments for protection of a person/family against theft, harm, illness, death, fire, etc | insurance |
| itemized list of a customer’s account information | statement |
| a charge for borrowing money or this can be a percentage earned from an account | interest |
| buying something to be paid for later | credit |
| court proceeding for a person who is unable to pay debts to settle with those owed money | bankruptcy |
| an agreement between a lender and a borrower for a specific amount | loan |
| bank account that allows money to be easily deposited and withdrawn | checking account |
| How does money have any value? | people have to trust in it |
| the first ethnic group to invent the lending borrowing system for money,that we refer to as banks today. | Jews |
| Credo is a Greek word from which we get the word "credit" and it means | I believe |
| To commit/deposit money or capital into a fund, stock, or special account to gain a financial return | invest |
| Services such as electricity, gas, or water needed for the home | utilities |
| Fees for school or college | tuition |
| Store or business that sells products and/or services to the public | retailer |
Created by:
Sandlin
Popular Social Studies sets