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ClassTools Premium membership gives access to all templates, no advertisements, personal branding and many other benefits!
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| 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 |