Financial Literacy Terms

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Across
  1. 2. the maximum amount of money a lender will allow you to spend on a credit card or a line of credit
  2. 6. a legal proceeding initiated when a person or business is unable to repay outstanding debts or obligations
  3. 8. mandatory contributions levied on individuals or corporations by a government entity
  4. 10. an increase in value of an asset over time
  5. 11. removing funds from a bank account, savings plan, pension, or trust
  6. 12. the money that a person or entity receives in exchange for their labor or products; the amount of money, property, and other item of value received over a set period of time in exchange for services or products
  7. 13. all the money you earn before taxes and other deductions are subtracted
  8. 14. an agreement between you and a lender that gives the lender theif you fail to repay the money you've borrowed plus interest
  9. 16. an estimate of income and expenditure for a set period of time
  10. 18. the monetary charge for borrowing, or depositing money and is usually expressed as a percentage of the amount borrowed, or deposited; a charge that borrowers pay lenders for a loan
  11. 22. A federal program that provides part-time jobs for undergraduate and graduate students with financial need, allowing them to earn money to help pay education expenses
  12. 23. generally operates as a substitute for cash or a check, allowing one to buy now and pay back later with interest
  13. 25. a specialized computer that allows you to complete bank transactions without the need to see a bank representative
  14. 26. a sum of money that one or more individuals or companies borrow from a bank arother financial institution
  15. 27. the cash that the buyer pays upfront in a real estate transaction and other large purchases
  16. 29. things that are nice to have but are not absolutely necessary
  17. 30. the action or process of reducing or paying off a debt with scheduled, predetermined installments that include principal and interest
Down
  1. 1. an expense in your budget that you can expect to stay the same, or close to it, over time
  2. 3. expenses that change in the amount from month to month
  3. 4. wages withheld from an employee's total earnings for the purpose of paying taxes, garnishments, and benefits, like health insurance
  4. 5. the money you may have available after taxes and deductions are taken out of your paycheck
  5. 7. an item of value that a lender can seize from a borrower if they fail to repay
  6. 9. the ability to borrow money with the promise that you'll repay it in the future, often with interest
  7. 15. using your personal information-such as your name, Social Security number, or credit card number-without your permission
  8. 17. something necessary for survival or basic functioning
  9. 19. a payment card that deducts money directly from a consumer's checking account when it is used
  10. 20. the reduction in value of an asset over time
  11. 21. a security that represents the ownership of a fraction of the issuing corporation
  12. 24. placing money into the care of a bank or other financial institution
  13. 28. wage - A wage set by contract or by law as the lowest that may be paid to employees