Across
- 2. A spending plan which covers expected income and expenses over a period of time
- 3. Generally, when you owe money to someone, a bank or a company
- 4. Annual Percentage Rate is yearly interest that a person or company will pay on borrowed money
- 7. The overall degree of comfort of an individual, household, or population, as measured by the amount of goods and services its members consume and its access to basic necessities
- 11. Something you borrow, especially a sum of money that is expected to be paid back with interest
- 13. A legal term used when a person, a company or an organisation is unable to pay any outstanding debts.
- 15. The way a country manages its money and resources (such as workers and land) to produce, buy, and sell goods and services. Goods are products like cars, computers, or even potatoes. Services are duties performed by one person for another, such as teaching and transportation
- 16. The money collected by the government from individuals and companies
- 17. Savings that people build up over their working lives to give them an income when they are retired
- 19. Money earned mostly from working or employment
- 20. An overall rise in the price of goods and services over time
- 22. The percentage of people who are out of work and looking for jobs. High unemployment rates are a sign of a weak economy
- 23. A bank account that keeps your money and pays interest and allows withdrawals
- 24. A drop in economic growth that lasts at least six months. During a recession, businesses sell fewer goods and services
- 25. A promise that you make to pay someone later
- 26. When you cannot pay back your debt or what you owe as originally agreed
Down
- 1. A bank card that allows you to pay for goods and services, on the internet, contactless or by entering a pin number. It also provides access to a cash machine so you can withdraw cash from your bank account to pay for goods or services. Its key feature is that you can only spend what you already have in your bank account
- 2. The central bank which oversees the UK’s supply of money, sets the interest rate and helps to ensure the country's financial stability
- 5. The amount of money that you pay per week or per month to live somewhere if you do not own the property
- 6. A bank card that allows you to buy goods and services in exchange for paying later. You may have to pay interest on top of what you already owed if you do not repay on time
- 8. The price of one country's currency in terms of another's. Like all prices, exchange rates rise and fall
- 9. A long-term loan to buy a house, flat, building or land
- 10. The rate (percentage) you pay on a mortgage to the lender
- 12. Money spent to pay for goods and services
- 14. The process of setting income aside for future spending. Saving provides cash for emergencies (unexpected expenses), short, medium and long term goals, and funds for investing
- 18. The extra percentage that you pay back on money you borrow
- 21. Refers either to the extra amount you have to pay back when you borrow money, or the money a bank pays you for leaving your money with them