Personal Living Unit 2

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Across
  1. 5. A check should never be written with a ______________
  2. 6. (2 words) a mathematical tool created to help a lender evaluate the risk associated with lending consumer money.
  3. 7. Goods, services, and/or money is received in exchange for a promise to pay back a sum of money at a future date. What is this called?
  4. 9. Items that are not necessary but we desire to have them
  5. 13. If a person does not have a history of credit use, has no credit accounts in his or her name, or pays cash for all major purchases, then credit history will not be ___________
  6. 15. (2 words) your personal record of your checking account. It keeps track of your deposits and withdrawals from your account
  7. 16. One benefit of having a check account is that its _____ to take cheks and your debit card around with you rather than cash.
  8. 17. An accounting of your income and expenses during a certain period of time
  9. 18. An institution that is set up for lending, borrowing, issuing, exchanging, taking deposits, safeguarding, or handling money under specific laws and guidelines
  10. 19. (2 words) A record of a consumer's credit history
  11. 20. (2 words) The amount of credit you can use on your credit card
  12. 23. (2 words) a record of transactions involving the use of credit
  13. 27. Using credit builds good credit history, credit cards can be useful in emergencies, and credit cards offer protection against theft of your cash. These are all pros or cons of using credit?
  14. 28. Paying the credit card bill by the due date and keeping your cards with you or in a safe place are both important ____________ of using a credit card
  15. 30. (2 words) The number of days you have before a credit card company starts charging you interest on your new purchases.
  16. 32. One thing that budgeting does is that is puts you in _______.
Down
  1. 1. Strategies to ______ credit history include getting a store credit card account, opening credit card accounts, or getting a loan from a financial institution
  2. 2. For this type of card, you use your PIN to complete a transaction. You can use this card when you want to withdraw cash from an ATM, and when you want cash back with a purchase
  3. 3. (2 words) This is a fee for overdrawing a bank account (using money not in your account)
  4. 4. Expenses such as food, entertainment, electric bill are called ______ expenses
  5. 8. A check should not be written in pencil because someone could _____ the information.
  6. 10. (2 words)This allows you to get cash, make deposits, transfer money, and check your checking balance.
  7. 11. (2 words) Any charge other than a purchase usually carries an extra fee, such as cash advances, late payments, etc.
  8. 12. This type of expense is the same every month.
  9. 14. (3 words) The interest rate, expressed per year, applied to your purchases
  10. 21. (2 words) This allows you to do everything an ATM card allows, plus you can access funds from your checking account.
  11. 22. Overspending and impulse purchases are easier to do, if you only pay the minimum balance each month it will take years to pay off the balance of a credit card, and if you fall behind on paying your monthly payments on any of your loans it can damage your credit rating. These are all pros or cons of using credit?
  12. 24. (2 words) A membership fee for having a credit card. Not all cards have them
  13. 25. (2 words) The lowest amount of money that you are required to pay on your credit card statement each month
  14. 26. (2 words) The total amount that you pay to use your credit, which includes interest and any other charges related to the transaction.
  15. 29. An example of this is food, clothing or shelter
  16. 31. Step One in budgeting is to estimate your net (or usable)______.
  17. 33. Every time you purchase something with a credit card, you;re entering into a _____ agreement with the credit card company.