1st Financial Literacy Terms

Legally released from the obligation to repay all debt in exchange 4 the forced loss of assets

Plastic card that provides access to electronic funds transfer from an automated teller machine

An individual who conceives of, establishes, operates, and assumes the risks of a business

Intentional deception, misrepresentation, or concealment of information for monetary gain

A plastic card that authorizes the delivery of goods in exchange 4 future payment with interest

Money earned from investments and employment

The cost of goods and services

A revision of bankruptcy law intended to make the system fairer for creditors and debtors

An expression of dissatisfaction with a product or service, often stating the problem.

A state or federally charted for-profit financial institution offers loans & financial services

A person who provides financial information and advice

Desired results from one's efforts to achieve personal economic satisfaction

An agreement to provide goods, services, or money in exchange future payments with interest

Item with economic value that an individual or organization owns, such as stocks or real estate

A long-term loan to buy real estate, land and the structures on it

Earnings from employment, including commissions and tips.

Purchasing securities such stocks and mutual funds with the goal of increasing wealth with risk

An announcement of a product's or service's benefits that is intended to encourage its purchase

The process of seeking information about products to find the best quality for the best price

A spending plan

Something owed, usually measured in dollars

A risk management tool that protects an individual from financial losses under specific terms

A computer terminal used to conduct business with a financial institution; aka cash machine

A business that specializes in obtaining payment from debtors who have defaulted on their loans

A legally binding agreement between two or more parties