Financial lit vocab

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Across
  1. 4. a type of savings account offered by banks and credit union
  2. 5. an agreement between two parties where one owes the other a specific amount of money
  3. 6. the ability to borrow money with the promise that you'll repay it in the future, often with interest.
  4. 7. is a way to manage your risk.
  5. 8. is a payment card that deducts money directly from your checking account
  6. 14. A legal proceeding initiated when a person or business is unable to repay debts
  7. 17. a measure of how likely you will default on your debt obligations according to a lender's assessment
  8. 18. A need is something that is necessary to live and function A want is something that can improve your quality of life
  9. 19. to fail to fulfill a contract agreement or duty
  10. 20. a statement that has information about your credit activity and current credit situation
  11. 21. a plan you write down to decide how you will spend your money each month
  12. 22. set aside money for savings before paying bills and making other purchases
  13. 24. the amount of money, property, and other transfers of value received over a set period of time
Down
  1. 1. the ability to compare prices on products across different retailers
  2. 2. a separate savings or bank account used to cover or offset the expense of an unforeseen situation.
  3. 3. a prediction of your credit behavior
  4. 5. a strategy that mixes a wide variety of investments within a portfolio in an attempt to reduce portfolio risk.
  5. 9. money paid regularly at a particular rate for the use of money lent, or for delaying the repayment of a debt.
  6. 10. denoting an original sum invested or lent.
  7. 11. You borrow a sum of money from the lender and, in exchange, agree to repay the amount plus interest over a specific period of time
  8. 12. the cost you pay each year to borrow money
  9. 13. a financial professional who executes orders in the market on behalf of clients.
  10. 15. things you own that you can sell for money
  11. 16. accepts deposits, make loans, and provides a wide array of other financial services and products.
  12. 23. the concept that money is worth more in the present than in the future