Personal Finance

1. Student Loans: loans made by the government with terms and conditions set by law; often have a lower fixed interest rate
3. money owed to another person or company
6. a person or organization that uses a product or service
8. Fraud: the unauthorized use of your debit or credit card number and PIN or the forging of your signature
9. Income: what a person earns after payroll taxes and other deductions are taken out; often referred to as take-home pay
12. Growth: the average rate of growth for an investment over time; often expressed as an annual figure
14. Shark: person or entity that charges borrowers interest rates above an established legal rate
15. Income: the amount you earn before taxes and other payroll deductions
17. the additional cost a lender charges for borrowing their money
18. Theft: the act of fraudulently gaining and using the personal information of someone else, usually for financial gain

2. Warranty: extra coverage for the repair or replacement of items purchased
4. the increase in value of a home over time; the difference between the amount owed and what the home could be sold for
5. the original amount of a loan; the total amount borrowed before interest
6. the theory that spending money and consuming goods is good for the economy
7. Worth: the amount by which the value of a person’s assets exceeds or falls behind the value of their liabilities
10. Rate: the percentage of principal charged by the lender for use of its money
11. Student Loans: loans made by banks, credit unions, or other organizations with terms and conditions set by the lender, including higher or variable interest rates
13. Net Worth: the dollar value of a person’s assets is greater than the dollar value of their liabilities
16. Net Worth: the dollar value of a person’s liabilities is larger than the value of their assets
18. the persistent rise in the cost of goods and services over time