FIN LIT VOCAB

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Across
  1. 3. of Deposit (CD) a type of savings account offered by banks and credit unions
  2. 5. a spending plan based on income and expenses
  3. 6. failure to fulfill a contract
  4. 8. something that has current or future economic value to a business
  5. 10. shopping comparing the prices of similar products from different stores or suppliers before buying
  6. 13. fund a separate savings or bank account that’s specifically set aside for unplanned expenses or financial emergencies
  7. 16. the amount owed by the borrower to the lender
  8. 17. the process of starting to include a wide variety of things
  9. 19. value of money a sum of money is worth more now than the same sum of money in the future
  10. 22. the cost of borrowing money
  11. 23. a legal proceeding that starts when a person or business is unable to pay their debts or obligations
  12. 24. the cost you pay each year to borrow money
Down
  1. 1. score a prediction of your credit behavior based on your credit history
  2. 2. card a payment card that deducts money directly from your checking account
  3. 4. a measure of a borrower’s risk to lender
  4. 7. a form of debt incurred by an individual or other entity
  5. 9. the money one receives from different sources
  6. 10. report a statement with the information about your credit activity and current credit situation
  7. 11. yourself first set aside money for savings before paying bills and making other purchases
  8. 12. Union a nonprofit financial institution that’s owned by the people who use its financial products
  9. 14. the ability to borrow money with the intention of repaying it back in the future
  10. 15. Broker financial professionals who buy, sell and trade financial securities for their clients
  11. 18. vs. want something necessary for survival vs something a person desires to have
  12. 20. something that protects you financially against a loss
  13. 21. The money that you originally agreed to pay back