Intro to Personal Finance Review

Many American families are broke.

Fee paid by a borrower to the lender for the use of borrowed money.

You don't really need to know the language of money.

A person or organization that buys/uses goods or services.

A well written budget will allow you to

The credit industry is NOT very profitable.

A system by which goods and services are produced and distributed.

You can buy happiness.

A debt stating the amount owed, interest rate and date of repayment.

Banks are a safe way to store and save your money.

When it comes to managing money, you need ___% knowledge and __% behavior.

The granting of a loan and the creation of debt.

All of an individual's decisions in managing money is called ____________ ______________.

The hardest part of making a budget is

Being in debt keeps you from building wealth.

This is the knowledge needed to manage your finances effectively.

An obligation to repay money owed from one party to another party.

Money is a __________; you must use it wisely.

The best way to learn how to manage money is to learn how to manage ______.

The use of credit is very popular in the United States.

Why is "Buy now, pay later" a bad plan?