Personal Finance
Loans
Interest Rates
Budgeting
Insurance
100

Money kept aside for unexpected expenses is called this.

What is an emergency fund?

100

Money borrowed that must be paid back with interest.

What is a loan?

100

The cost of borrowing money, expressed as a percentage.

What is an interest rate?


100

This plan helps you track your income and expenses so you can manage your money wisely

What is a Budget?

100

This protects you financially if something unexpected happens, like an accident.

What is insurance?

200

A score that shows how reliable you are when it comes to paying back debt.

What is a credit score?

200

The original amount borrowed before interest is added.

What is the principal?

200

Interest calculated only on the principal.

What is simple interest?

200

Expenses that stay the same each month, like rent, are called this.

What are fixed expenses?

200

Insurance that helps pay for medical expenses.

What is health insurance?

300

This document shows your income and expenses over a period of time.

What is a bank statement?

300

This type of loan usually has higher interest rates and is based on your paycheck.

What is a payday loan?

300

If you borrow $100 at 10% simple interest for 2 years, how much interest do you owe?

What is $20?

300

If you earn $2,000 EC monthly and spend $1,800 EC, what is your surplus?

What is $200.00 EC?

300

This is the amount you pay each month to keep your insurance active.

What is a premium?

400

This term represents the increase in the value of an asset over time, often used when talking about stocks, property, or other investments.

What is appreciation? 

400

This type of loan does not require collateral, meaning the lender relies only on your creditworthiness and promise to repay.

What is an unsecured or personal loan?

400

This type of interest rate can change over time depending on the market.

What is a variable/adjustable/floating interest rate

400

This term describes checking your spending against your budgt to make adjustments. 

What is budget tracking/or monitoring? 

400

The amount you must pay out-of-pocket before insurance kicks in.

What is a deductible?

500

This term descibes the difference (-) between assets and liabilities.

What is Equity or Net Worth?

500

A loan where the interest rate can change over time.

What is a variable-rate loan?

500

The type of interest rate that has been adjusted to remove the effects of inflation.

What is the real interest rate?

500

This budgeting method involves dividing money into categories labeled "needs," "wants," and "savings."

What is the 50/30/20 rule?

500

Insurance that replaces part of your income if you cannot work due to illness or injury.

What is disability insurance?

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