Personal Finance ch 1-2

spending more money than you make and going into debt

interest paid on interest previously earned

an obligation of repayment owed by one party to a second party

the three basic levels of financial well-being are survival,____, and secure

1Timothy 6:17-19 says that the rich should do good and be ______ in good deeds

fee payed by a borrower to the lender for the use of borrowed money

five hundred dollars in real available cash to be used only in the event of an emergency

a system by which goods and services are produed

The persistant rise in the price of goods and services over a period of time

according to Matthew 6:19-21, where you treasure is your ________ will also be there

saving money over time for a large purchase

the granting of a loan and the creation of a debt

all of the decisions and activities of an individual or family regarding their money

a person or organization that uses a product or service

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

the steps to financial success

a debt evidenced by a note which specifies the principle, interest rate and date of repayment

percentage paid to a lender for the use of borrowed money