PCS Personal Fin Word Scramble
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Term | Definition |
Consumer | a person or organization that uses a product or service |
Credit | The granting of a loan and the creation of debt; any form of deferred payment |
Debt | An obligation of repayment owed by one party (the debtor/borrower) to a second party (the creditor/lender); in most cases this includes repayment of the original loan amount plus interest |
Economy | A system by which goods and services are produced and distributed |
Financial literacy | The knowledge and skillset necessary to be an informed consumer and manage finances effectively |
Interest | A fee paid by a borrower to the lender for the use of borrowed money; typically interest is calculated as a percentage of the principal (original loan amount) |
Loan | A debt evidenced by a "note" which specifies the principal amount, interest rate and date of repayment |
Personal Finance | All of the decisions and activities of an individual or family regarding their money, including spending, saving, budgeting, etc. |
Created by:
Ms.Sala
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