the process of making choices that reflect goals by considering all the pros and cons along with the cost

being able to meet your financial goals through planned earning, spending, and saving

failing to live up to your financial obligations to meet your goals and needs

an organized method for making good buying decisions

standards or rules by which things can be judged

the maximum amount you are willing to pay for an item

a refund of part of the purchase price of an item

additional coverage that you can buy to pay for repairs or replacements needed beyond the original warranty period

Ways you can pay for an item other than with cash

The ability to borrow money and pay it back later

The ability to receive services and pay for them later

Plastic card linked to a credit account that can be used to make purchases

An account on which the account holder can charge repeatedly up to a maximum limit

a credit account that allows you to charge items or services only at that store or with that merchant

credit used to finance a single high-priced item through a series of equal payments made over a set period of time

A form of credit card where the balance must be paid in full each month

a direct loan of cash made to a consumer at a fixed interest rate for a set period of time

Property used as security for loan

A preapproved loan amount that a debtor can borrow a gianst,pay back, and borrow again as needed

Interest rate that does not change form month to month

Interest rate a lender can change at any time without notice

The amount you are required to pay each month an a credit account

A fee charged for violating a term of the credit agreement

A low temporary interest rate offered when you open a new account

Checks provided by a credit card company that allow you to borrow against your credit card account

A penalty charged when you exceed your approved credit limit

A penalty for closing your account prior to stated period

types of credit that can be obtained quickly but often comes with high and hidden costs

Institution or person to whom you owe money to

A person or institution that owes money

checks provided by credit cards to borrow money against

average balance method, previous balance method, adjusted balance method

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