1st Financial Literacy Terms

The cost of goods and services

A person who provides financial information and advice

Item with economic value that an individual or organization owns, such as stocks or real estate

Something owed, usually measured in dollars

The process of seeking information about products to find the best quality for the best price

An expression of dissatisfaction with a product or service, often stating the problem.

A spending plan

A business that specializes in obtaining payment from debtors who have defaulted on their loans

An announcement of a product's or service's benefits that is intended to encourage its purchase

A computer terminal used to conduct business with a financial institution; aka cash machine

Money earned from investments and employment

A long-term loan to buy real estate, land and the structures on it

Earnings from employment, including commissions and tips.

A revision of bankruptcy law intended to make the system fairer for creditors and debtors

An agreement to provide goods, services, or money in exchange future payments with interest

A state or federally charted for-profit financial institution offers loans & financial services

An individual who conceives of, establishes, operates, and assumes the risks of a business

Legally released from the obligation to repay all debt in exchange 4 the forced loss of assets

A risk management tool that protects an individual from financial losses under specific terms

Intentional deception, misrepresentation, or concealment of information for monetary gain

A plastic card that authorizes the delivery of goods in exchange 4 future payment with interest

Desired results from one's efforts to achieve personal economic satisfaction

A legally binding agreement between two or more parties

Purchasing securities such stocks and mutual funds with the goal of increasing wealth with risk

Plastic card that provides access to electronic funds transfer from an automated teller machine