Chapter 1 Introduction to Personal Finance
(Ramsey Classroom) Detailed Questions and
Expert Answers
personal finance
All of the decisions and activities of an individual or family regarding their money,
including earning, spending, saving, budgeting, giving over time.
consumer
A person or organization that uses a product or service
debt
something, typically money, that is owed or due to a person or company
Paycheck-to-Paycheck
Monthly income primarily devoted to expenses with little to no money for savings.
, credit
the granting of a loan and the creation of debt; any form of deferred payment
interest rate
the percentage of principal charged by the lender for use of its money
loan shark
a person who lends money at an exorbitant or illegal rate of interest
interest
A sum paid or charged for the use of money or for borrowing money
Roaring 20s
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