Foundations of Personal Finance Unit 1 Review

A person or business that offers loans at extremely high interest rates

The single most important factor in winning with money is

A debt evidence by a 'note' which specifies principal amount, interest rate, & repayment date

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

Fill in the blanks: Winning with money is _% head knowledge and _% behavior.

All decisions/activities of an individual/family re their $, including spending, saving, etc

A person or organization who buys goods or services

Which of the following is needed to be money smart?

A fee paid by the borrower to the lender for the use of money

An obligation of repayment owed by one party to another

Describe the financial reality of most Americans.

Which of the following is required to be 'money smart?'

The granting of a loan and the creation of debt; any form of deferred payment

The knowledge and skill set necessary to be an informed consumer & manage finances effectively