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Intro to Finance Basic Terms Flashcards | StudBud
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Intro to Finance Basic Terms
Intro to Finance Basic Terms
12 terms
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1
Money which a person EARNS is called a...
Interest
Budget
Loan
Income
2
The amount of money that you put into a bank account.
checking account
PIN
ATM
deposit
3
To use someones money with permission to pay it back later
Budget
Borrow
Loan
Vault
4
Someone who buys and uses Goods and Services...
Shopper
Consumer
Teller
People
5
Something you buy, but do not necessarily need
Need
Must
Want
Sports Gear
6
PUTTING MONEY INTO THE STOCK MARKET IS AN __________ IN A COMPANY
PROACTIVE
PRODUCT
CLIENT
INVESTMENT
7
What does "PAY YO'SELF FIRST" mean?
Saving money before spending it
Taking out a personal loan
Paying off all bills first
Getting a bonus from work
8
If you SPEND MORE money than you EARN, this is called...
Budget
Profit
Debt
Income
9
To use money to MAKE money
Invest
Spend
Budget
Market economy
10
How can a basic understanding of personal finance help teenagers avoid future debt?
By making them aware of interest rates
It cannot help
By teaching them about credit scores
Both A and B
11
Small amount of money you give to someone for a service
Check
Gift
Fee
Tip
12
What does “living paycheck to paycheck” mean?
Spending all of your income before the next paycheck arrives
Only using cash instead of credit
Having extra money left over each month
Avoiding loans completely
