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Financial literacy

Across
a card issued by a bank or financial services company that allows cardholders to borrow funds with which to pay for goods and services with merchants that accept cards for payment.
Emergency fund -In addition to a traditional savings account, an emergency fund is money set aside for big, unexpected expenses such as job loss or large medical bills. fee, Banks and other financial institutions usually charge you for using their products and services, like using a bank account or making a special transaction, like transferring money to another country.
the money that a borrower owes to a lender.
an essential expense, such as food or housing.
a plan for using income to meet financial obligations
comparing the prices of similar products to determine which is least expensive.
any resource that holds value - assets contain value that can be converted into money
a record of a borrower’s credit history. The information in a credit report is used to calculate a consumer’s credit score.
a core principle of investing, diversification spreads investments over different assets with varied risk potential. Diversification is a strategy to reduce the overall risk of loss.
a card that allows you to immediately withdraw funds from your bank account.
Down
a fixed percentage on the initial amount of money loaned out (or “principal”).
an expense that would be nice to have but isn't essential, such as designer clothing. principal, amount of money due on a loan before interest.
bills that come at set intervals (once a week, biweekly, or monthly) and don’t generally change. Examples include rent, cellphone bills (not including long-distance or extra-data charges!), and car insurance.
a financial arrangement in which money is borrowed for a purchase and paid back at a later date. It allows consumers to make purchases that they wouldn’t be able to afford if they had to pay the full price in one installment.
a three-digit number that represents how likely a borrower is to repay a debt. It is calculated based on the information in a borrower’s credit report and ranges from 300 to 850.
interest upon interest—it’s based on both the initial amount plus added interest earned on top.
a legal status that a person or entity can enter when they're unable to repay their debts. Bankruptcy shields borrowers from debt collection, but it requires that they sell their assets to repay the money they owe. Bankruptcy carries significant financial consequences.
the cost of borrowing money, which means you end up paying back more than you borrowed.
Unlike an emergency fund, savings are money set aside for the future or for a specific financial goal.
a set amount of money lent between people and institutions—usually banks—to pay for a large purchase that would otherwise be unaffordable up front (like a car or a house).