Ramsey Book Vocab

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Across
  1. 5. Money borrowed from a person or bank that you must pay back, usually with interest. (Ramsey advises avoiding these, especially for college.)
  2. 6. Payment The smallest amount of money you must pay back on a loan or credit card bill each month. (Paying only this amount costs you more in the long run.)
  3. 10. A program that lets students work part-time at school to earn money that helps pay for their college expenses.
  4. 12. An expense that changes or fluctuates in amount each time you pay it (like groceries or clothes).
  5. 15. The fee or percentage that a bank or lender charges you to borrow money, or pays you to save money.
  6. 16. Money you save and keep safe to be used only for unexpected, important problems, like a broken phone or car repair.
  7. 19. The idea that money you have now is worth more than the same amount in the future because it can earn interest.
  8. 20. The money you set aside for future goals instead of spending it now.
Down
  1. 1. When you earn interest on your original savings plus the interest you've already earned. It's like your money is making money for you!
  2. 2. The money you earn from a job, allowance, or other source.
  3. 3. A small plastic card that allows you to borrow money from a bank or lender to pay for goods and services. (This is a form of debt.)
  4. 4. A government form you fill out to see what financial aid (grants, loans, etc.) you qualify for to pay for college.
  5. 7. An expense that stays the same amount every time you pay it (like a subscription).
  6. 8. The original amount of money borrowed or saved, before any interest is added.
  7. 9. An amount of money you owe to someone else, like a person or a bank.
  8. 11. Money awarded to a student based on merit (grades, sports, etc.) that you do not have to pay back.
  9. 13. Money given by the government or an organization for college that you do not have to pay back.
  10. 14. A plan that shows exactly how much money you expect to earn and how you plan to spend it. (A budget gives every dollar a job!)
  11. 17. School A school that provides hands-on training for a specific job, like welding, culinary arts, or auto repair.
  12. 18. A type of budget where your total income minus all your expenses equals zero. It means you have a job for every dollar you earn.