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Chapter 1 Ramsey Personal Finance Flashcards | StudBud
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Chapter 1 Ramsey Personal Finance
Chapter 1 Ramsey Personal Finance
17 terms
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Flashcards
17 cards
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1
Consumer
ability of a customer to obtain goods before payment
something, typically money, that is owed or due.
a person who purchases goods and services for personal use.
spending nearly all your income on necessities
2
Positive Net Worth
the ability to understand and effectively use various financial skills
If an individual or company owns assets that are greater than liabilities
the state of being responsible for something, especially by law.
a useful or valuable thing, person, or quality.
3
Debt is something, typically money, that is owed or due.
True
False
4
Interest Rate is the proportion of a loan that is charged as interest to the bank
True
False
5
Personal Finance
something, typically money, that is owed or due.
a term used to cover the management of your money
a person who purchases goods and services for personal use.
spending nearly all your income on necessities
6
Negative Net Worth your liabilities are greater than your assets
False
True
7
Interest
a document showing your financial situation and goals.
The total wealth of an individual, company or household.
moneylender who charges extremely high rates of interest
money paid regularly at a particular rate for the use of money lent
8
Liability
the ability to understand and effectively use various financial skills,
the state of being responsible for something, especially by law.
your liabilities are greater than your assets
a useful or valuable thing, person, or quality.
9
Paycheck to Paycheck
something, typically money, that is owed or due.
ability of a customer to obtain goods before payment
moneylender who charges extremely high rates of interest
spending nearly all your income on necessities
10
Financial Literacy
the state of being responsible for something, especially by law.
the ability to understand and effectively use various financial skills.
If an individual or company owns assets that are greater than liabilities
your liabilities are greater than your assets
11
Expense
If an individual or company owns assets that are greater than liabilities
the cost required for something; the money spent on something.
your liabilities are greater than your assets
he amount of money you bring home after taxes
12
Net Worth
The total wealth of an individual, company, or household.
money paid regularly at a particular rate for the use of money lent
Moneylender who charges extremely high rates of interest.
a document showing your financial situation and goals.
13
Credit
the proportion of a loan that is charged as interest to the borrower
something, typically money, that is owed or due.
the ability of a customer to obtain goods before payment
spending nearly all your income on necessities
14
Financial Plan
a document showing your financial situation and goals.
money paid regularly at a particular rate for the use of money lent
moneylender who charges extremely high rates of interest
The total wealth of an individual, company or household.
15
Net Income
If an individual or company owns assets that are greater than liabilities
the amount of money you bring home after taxes
the state of being responsible for something, especially by law.
a useful or valuable thing, person, or quality.
16
Loan Shark
moneylender who charges extremely high rates of interest
money paid regularly at a particular rate for the use of money lent
your liabilities are greater than your assets
a document showing your financial situation and goals.
17
Asset
If an individual or company owns assets that are greater than liabilities
the state of being responsible for something, especially by law.
moneylender who charges extremely high rates of interest
a useful or valuable thing, person, or quality.
