Question | Answer |
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 |