Vocab 5

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Across
  1. 3. the recipient of money or property as a result of a transaction or event
  2. 5. any money spent to get something or the cost of something
  3. 6. are organizations that act as middlemen for money matters
  4. 8. a resource that an individual, company, or country owns or controls with the expectation that it will provide a future economic benefit
  5. 9. a legal arrangement for managing and transferring your assets with the primary goal of saving your heirs time, hassle, and money
  6. 11. a desire for a good or service that is not necessary for survival
  7. 12. a loan used to buy a home or other real estate, where the property itself serves as collateral
  8. 16. the official national currency (coins and paper money) that, by law, must be accepted for the settlement of any financial debt or obligation
  9. 18. an expense, or money paid out from an account, that results in the increase of an asset or a decrease in a liability or owners equity
  10. 19. asset a borrower pledges to a lender as security for a loan
  11. 20. something essential for survival
  12. 25. a lender who provides short-term loans using a borrower's personal property as collateral
  13. 26. a mechanism for managing and transferring risk
  14. 29. a number that tells lenders how likely you are to repay borrowed money
  15. 31. an interest rate on a loan or investment that fluctuates over time
  16. 32. the process of spreading out a large cost over a period of time through regular payments
  17. 33. the amount of satisfaction that you will get from the consumption of a product or service
  18. 35. provides short-term, high-cost loans, typically due on the borrower's next payday
  19. 36. the portion of your home's current market value that you own outright, free of any debt
Down
  1. 1. an initial, upfront cash payment a buyer makes when purchasing an expensive item
  2. 2. a type of bank deposit account that allows individuals to store money securely and earn a return over time
  3. 4. a market for borrowing and lending very short-term funds, typically for one year or less
  4. 7. a financial obligation where one party (the borrower) owes a sum of money to another party (the lender) with the requirement of future interest and principal payments
  5. 10. financing options that allow consumers to pay for high-value goods or services in small, manageable, regular payments over a set period
  6. 12. financial companies that take money from individuals or other organizations (like pension funds) and invest it on their behalf
  7. 13. a business that takes in money from some customers (depositors) and lends that money to other customers (borrowers) to make a profit
  8. 14. an interest rate or exchange rate that remains constant and does not fluctuate with market conditions
  9. 15. a bank account into which you deposit funds that you can then use to pay bills, make purchases and carry out other tasks
  10. 17. a process where a neutral third party holds funds or assets for a transaction until certain conditions are met by the involved parties
  11. 21. a not-for-profit financial cooperative that is owned by its members
  12. 22. an agreement where one party (the lender) gives a sum of money or property to another party (the borrower) with the understanding that the borrower will pay it back later
  13. 23. a business that pools money from many different investors and uses that combined capital to buy a range of financial assets
  14. 24. a simple, understandable plan for managing money to achieve financial goals
  15. 27. type of digital currency that allows people to make payments directly to each other through an online system
  16. 28. a payment tool that lets you borrow money from a financial institution to make purchases, which you must pay back later
  17. 30. a legal document that specifies how you want your assets to be distributed and your affairs handled after you die
  18. 34. an agreement to receive money, goods, or services now with the promise to pay later