Credit
The maximum amount of money a lender will allow you to spend on a credit card or a line of credit.
What is credit limit
A spending plan based on income and expenses.
What is budget
A thing that is borrowed, especially a sum of money that is expected to be paid back with interest.
What is a loan
Any mechanism used for generating future income.
What is investment
Expenses that can help you live more comfortably.
What is a want
An initial payment made when something is bought on credit.
What is Down Payment
A fixed regular payment, typically paid on a daily or weekly basis, made by an employer to an employee, especially to a manual or unskilled worker.
What is wages
Removing funds from a bank account, savings plan, pension, or trust
What is a withdrawal
A sum of money placed or kept in a bank account, usually to gain interest.
What is a deposit
Expenditures that are essential for you to be able to live and work.
What is a need
A small plastic card issued by a bank, business, etc., allowing the holder to purchase goods or services on credit.
What is a credit card
An individual’s total earnings before taxes or other deductions.
What is gross income
A card issued by a bank allowing the holder to transfer money electronically to another bank account when making a purchase.
What is a debit card
The price you pay to borrow money or the cost you charge to lend money.
What is interest
Costs that largely remain constant.
What are fixed expenses
A numerical rating representing the perceived ability of a person or organization to fulfill their financial commitments, based on an analysis of their credit history and current financial circumstances.
What is credit score
Sales minus cost of goods sold, general expenses, taxes, and interest.
What is net income
A type of loan used to purchase or maintain a home, land, or other types of real estate.
What is mortgage
Donating an original sum invested or lent.
What is principal
A cash reserve that's specifically set aside for unplanned expenses or financial emergencies.
What is emergency fund
The ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future.
What is credit
Wages withheld from an employee's total earnings for the purpose of paying taxes, garnishments and benefits, like health insurance.
What is payroll deductions
An item of value that a lender can seize from a borrower if he or she fails to repay a loan according to the agreed terms.
What is collateral
A workplace retirement plan that lets you make annual contributions up to a certain limit and invest that money for the benefit of your later.
What is a 401K
A corporate expense that changes in proportion to how much a company produces or sells.
What are variable expenses