Across
2. The persistent increase in the cost of goods and services or the persistent decline in the purchasing
power of money
4. A savings account that is set aside to be used only for emergency expenses
7. The granting of a loan and the creation of a debt; any form of deferred payment
9. An obligation of repayment owed by one party (debtor /borrower) to a second party (creditor/lendor)
12. The five steps to financial success
13. All of the decisions and activities of an individual or family regarding their money, including spending,
saving, budgeting, etc.
14. A fee paid by a borrower to the lender for the use of borrowed money
15. An account that generates interest income on the available balance in the account
Down
1. The knowledge and skillset necessary to be an informed consumer and manage finances effectively
3. Interest paid on interst previously earned
5. Saving money over time for a large purchase
6. A rate which is either charged (on debt) or paid (on investment accounts) for the use of money
8. A system by which goods and services are produced and distributed
10. A debt evidenced by a "note," which specifies the principal amount, interest rate, and date of
repayment
11. A person or organization that buys/uses goods or services