What does it mean if you are living "Paycheck to Paycheck" ?

Spending all your income, having little to nothing to add to savings.

What is the definition of asset ?

Property owned by a person/company, has value and available to meet debts.

What is the definition of debt ?

Something, typically money, that is owed or due.

What is the definition of interest rate ?

the proportion of a loan that is charged as interest to the borrower.

What is the definition of personal finance ?

The finances of an individual or household. Includes budget, savings, etc.

What is the definition of liability ?

A sum of money that one party or entity owes to another.

What is the definition of financial literacy ?

Ability to use financial skills to make informed decisions about your money

What is the definition of loan shark ?

a moneylender who charges extremely high interest rates, usually illegally.

What is the definition of consumer ?

A person who purchases goods and services for personal use.

What is the definition of financial plan ?

A plan that involves defining financial goals and how to achieve them.

What is the definition of interest ?

money paid regularly at a particular rate for the use of money lent.

What is the definition of credit ?

A number that determines whether you can take out loans.

What is the definition of net worth ?

The value of all of your assets, minus the total of all of your liabilities

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Personal Finance Vocab

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Questions 13

Answers

1
What does it mean if you are living "Paycheck to Paycheck" ?
A person who purchases goods and services for personal use.
Spending all your income, having little to nothing to add to savings.
You still have money left over when you get your next paycheck.
You get paid weekly.
2
What is the definition of asset ?
Property owned by a person/company, has value and available to meet debts.
An item you can buy from a store.
A sum of money that one party or entity owes to another.
money paid regularly at a particular rate for the use of money lent.
3
What is the definition of debt ?
The finances of an individual or household. Includes budget, savings, etc.
Money on your credit card.
Spending all your income, having little to nothing to add to savings.
Something, typically money, that is owed or due.
4
What is the definition of interest rate ?
A number that determines whether you can take out loans.
the proportion of a loan that is charged as interest to the borrower.
money paid regularly at a particular rate for the use of money lent.
a moneylender who charges extremely high interest rates, usually illegally.
5
What is the definition of personal finance ?
Spending all your income, having little to nothing to add to savings.
a person who purchases goods and services for personal use.
The finances of an individual or household. Includes budget, savings, etc.
something, typically money, that is owed or due.
6
What is the definition of liability ?
a persoe/thing whose presence is likely to put one at a disadvantage.
Someone you can trust.
Spending all your income, having little to nothing to add to savings.
A sum of money that one party or entity owes to another.
7
What is the definition of financial literacy ?
Knowing how to write about money.
Spending all your income, having little to nothing to add to savings.
Having a plan for your money.
Ability to use financial skills to make informed decisions about your money
8
What is the definition of loan shark ?
A type of shark.
the proportion of a loan that is charged as interest to the borrower.
a moneylender who charges extremely high interest rates, usually illegally.
A type of loan.
9
What is the definition of consumer ?
Someone who eats food.
Spending all your income, having little to nothing to add to savings.
something, typically money, that is owed or due.
A person who purchases goods and services for personal use.
10
What is the definition of financial plan ?
The value of all of your assets, minus the total of all of your liabilities
A plan that involves defining financial goals and how to achieve them.
money paid regularly at a particular rate for the use of money lent.
Property owned by a person/company, has value and available to meet debts.
11
What is the definition of interest ?
A number that determines whether you can take out loans.
the state of wanting to know or learn about something or someone.
A type of loan.
money paid regularly at a particular rate for the use of money lent.
12
What is the definition of credit ?
money paid regularly at a particular rate for the use of money lent.
A type of loan.
a moneylender who charges extremely high interest rates, usually illegally.
A number that determines whether you can take out loans.
13
What is the definition of net worth ?
The worth of an item.
Property owned by a person/company, has value and available to meet debts.
The value of all of your assets, minus the total of all of your liabilities
money paid regularly at a particular rate for the use of money lent.

Personal Finance Vocab Flashcards | StudBud