5.01 Word Scramble
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Term | Definition |
Compound Interest | Earning interest on interest |
Consumption | The purchase of goods and services |
Do-It-Yourself | When you complete a task yourself rather than paying someone else |
Emergency Savings | Cash set aside to cover the cost of unexpected events |
Interest | Price paid for using someone else's money |
Interest Rate | Percentage rate used to calculate interest |
Liquidity | How quickly and easily assets can be accessed and converted into cash |
Pay-Yourself-First | Saving for the future by putting money aside before paying regular monthly bills or using income for discretionary purchases |
Principal | The original amount of money saved or invested |
Saving | Accumulation of excess funds by intentionally spending less than you earn |
Savings | Portion of income not spent on consumption |
Time Value of Money | Money available at the present time (today) is worth more than the same time if received in the future |
Created by:
kalyncaudle
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