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QR Challenge: Financial Plan Scavenger Hunt

QuestionAnswer
Define "Asset"anything we own
Define "Budgeting"process of forecasting future expenses and income
Define "Credit Management"making decisions about getting and using credit
Define "Equity"Ownership
Define "Finance"taking a loan is financing
Define "Income"Money coming in
Define "Interest"like rent on money - cost of using money
Define "Liability"What we owe, our debt
Define "Liquidity"refers to how much readily available cash you have on hand to meet wants and needs
Define "Money Management"making decisions about how much cash or liquid assets to keep in reserve
Define "Net Worth"Difference between Assets and Liabilities
Define "Payment Terms"interest rate, length of loan and other information lender provides
Define "Personal Financial Plan"
Define "Real Estate"Buildings and land
Define "Risk"possibility of financial loss

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