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A person or organization that uses a product or service
the granting of a loan and the creation of debt; any form of deferred payment
an obligation of repayment owed by one party (the debtor/borrower) to a second party (the creditor/lender); in most cases this includes repayment of the original loan amount plus interest
A system by which goods and services are produced and distributed
the knowledge and skillset necessary to be an informed consumer and manage finances effectively
A fee paid by a borrower to the lender for the use of borrowed money; typically interest is calculated as a percentage of the principal (original loan amount)
A debt evidenced by a "note", which specifies the principal amount, interest rate and date of repayment
All of the decisions and activities of an individual or family regarding their money, including spending, saving, budgeting, ect.
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