Chapter 1 Vocabulary

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Across
  1. 4. a person or organization that uses a product or service
  2. 5. all the financial decisions an individual or family must make in order to earn, budget, save, spend, and give money over time
  3. 7. an expression used to describe a person or household whose monthly income is devoted to expenses and has little to no savings
  4. 12. the dollar value of a person's assets is greater than the dollar value of their liabilities
  5. 14. the knowledge and skill base necessary for people to be informed consumers and manage their finances effectively
  6. 16. the additional cost a lender charges for borrowing their money
Down
  1. 1. the granting of a loan and the creation of debt; any form of deferred payment
  2. 2. person or entity that charges borrowers interest rates above the established legal rate
  3. 3. anything that is owned by an individual, including money in the bank or investments
  4. 6. money owed to another person or company
  5. 8. the cost of goods or services; money paid out
  6. 9. the percentage of principal charged by the lender for use of its money
  7. 10. what a person earns after payroll taxes and other deductions are taken out; often referred to as take-home pay
  8. 11. the dollar value of a person's liabilities is larger than the value of their assets
  9. 13. financial debts or obligations
  10. 14. a plan of action that allows a person to meet not only their immediate needs but also their long-term goals
  11. 15. the amount by which the value of a person's assets exceeds or falls behind the value of their liabilities