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Finance 10-13

TermDefinition
Money order is a form of cash brought for a specific amount and signed over by the purchaser to the person or firm named on it. People must pay a fee on a money order.
Comparison shopping involves carefully analyzing the similarities and differences among similar products in order to make a choice.
Credit application is a form with questions about a borrower’s ability.
Credit report is a record of a person’s credit history, including willingness and ability to repay.
Creditworthiness is the ability and willingness to repay debts.
Lender someone who lends another person money or things and expects to have the money repaid or the item returned
Collateral something of value that a borrower owns that can be kept by a lender if a borrower doesn’t repay a loan.
Benefit is the gain received from an action taken.
Variable expenses may change from week to week or from month to month.
Fixed expenses are those that do not vary from week to week or month to month.
Created by: SKCropper
 

 



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