personal money management

13 terms by kcmills 

Ready to study?
Start with Flashcards

Create a new folder

Advertisement Upgrade to remove ads

personal money management choices

how people choose to spend and save money

budget

a record of how you plan to spend your money

debt

amount of money you owe

income

how much money you have or make

expenses

the things you spend money on

credit

when you borrow someone else's money with an agreement to pay it back a little over time you are using this.

interest rate

a percentage of the amount that you owe that you agree to pay in addition to what you borrowed.

credit score

a number based on your history as a borrower. It is used to determine whether or not to lend you money.

spending

when you give money to someone or something in return for a good or service

saving

when you take money you could spend and, instead, put it aside for a later time

savings account

accounts people have with banks, credit unions, or even online institutions that allow them to add money to the balance while also having access to their money when they need it and the money in the account gains interest.

investing

occurs when you allow businesses to use part of your money in return for interest in or a share of their profits.

reasons to save

college, vacations, future purchase, retirement, etc

Please allow access to your computer’s microphone to use Voice Recording.

Having trouble? Click here for help.

We can’t access your microphone!

Click the icon above to update your browser permissions above and try again

Example:

Reload the page to try again!

Reload

Press Cmd-0 to reset your zoom

Press Ctrl-0 to reset your zoom

It looks like your browser might be zoomed in or out. Your browser needs to be zoomed to a normal size to record audio.

Please upgrade Flash or install Chrome
to use Voice Recording.

For more help, see our troubleshooting page.

Your microphone is muted

For help fixing this issue, see this FAQ.

Star this term

You can study starred terms together

NEW! Voice Recording

Create Set