Fin. Lit. - Terms (Introduction)

The knowledge and skillset necessary to be an informed consumer and manage finances effectively

A debt evidenced by a "note" which specifies the principal amount, interest rate, and date of repayment.

All of the decisions and activities of an individual or family re: their money (spending, saving, etc.)

A fee paid by a borrower to a lender for the use of borrowed money; interest calculated as a percentage of principal

A person or organization that uses a product or service

An obligation of repayment owed by one party (the lender) to another party (the borrower); usually with interest.

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

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