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Final Review

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
        Help!  

Term
Definition
consumer   a person or organization that uses a product or a service  
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debt   an obligation of repayment owed by one party to a second party  
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ecomony   a system by which goods and services are produced and distributed  
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interest   fee paid by a borrower to the lender for the use of borrowed money  
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loan   temporary borrowing of a sum of money  
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emergency fund   a savings account set aside for unexpected events  
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interest rate   fee that is charged on debt or paid on investments for use of money  
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compound interest   earning interest on interest  
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pre-authorized check   money being pulled out of your pay check  
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sinking fund   saving money for a big purchase  
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budget    
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envelope system    
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impulse purchase    
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overdraft    
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reconcile    
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zero-based budget    
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co-signing    
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credit    
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credit report    
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debt snowball    
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Associate's Degree    
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Bachelor's Degree    
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FAFSA    
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grant    
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mentorship    
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scholarship    
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trade school    
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work study    
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deposit    
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outstanding    
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withdrawl    
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auction    
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integrity    
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mark up    
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401(k)    
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403(b)    
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diversification    
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liquidity    
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mutual fund    
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Roth IRA    
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share    
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renter's insurance    
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home owners insurance    
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auto insurance    
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health insurance    
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disability insurance    
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identity theft protection    
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life insurance    
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long term care insurance    
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claim    
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coverage    
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deductible    
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liability    
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premium    
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cover letter    
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income tax    
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resume    
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social security    
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Created by: Ms.Sala
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