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Definition
| A person or organization that uses a product or service |
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Term
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Definition
| The granting of a loan and the creation of debt; any form of deferred payment |
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Term
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Definition
| An obligation or requirement of repayment owed by one party (the borrower) to a second party (the lender) - usually includes the loan plus interest |
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Definition
| A system by which goods and services are produces and distributed |
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Definition
| The knowledge and skillset necessary to be an infomred consumer and manage finances effectively |
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Term
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Definition
| A fee paid by a borrower to the lender for the use of borrowed money; usually interest is calculated as a percentage of the principal (original loan amount) |
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Term
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Definition
A debt marked by a "note" which identifies the:
* principal amount
* interest rate
* date of repayment |
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Term
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Definition
| All of the decisions and activities of an individual or family regarding their money, including spending, saving, budgeting, etc. |
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