units 1/2
granting of a loan and the creation of a debt
credit
a written cash flow plan for the future
budget
type of card that allows users to finance a purchase
credit card
a form filled out annually to apply for financial aid
FAFSA
public’s ability to recall a brand by jingles, logo, packaging
brand recognition
a fee paid by a borrower to the lender for the use of borrowed money
interest
an item you buy without consideration
impulse purchase
a decrease in value
depreciatation
a form of aid that doesn’t need to be repaid, usually for academics or athletics
scholarship
feeling regret after a purchas
buyers remorse
a system by which goods and services are produced
economy
reconcile
a measure of an individuals credit risk
credit report
a form of federal money that a student doesn’t pay back
grant
latin term for “buyer beware”
caveat emptor
you need at $500...
emergency fund
a cash flow plan tha assigns an expense to every dollar
zero based budget
dividing money into categories and storing cash for planned monthly expenses
envelope system
work study
to buy an item with credit and paying over time
financing
saving money over time for a large purchase
sinking fund
a copy of each check you write
carbon check
preferred method of debt repayment
debt snowball
3 reasons for building wealth
saving, spending, giving
an amount of money you spend over $300
significant purchase