Question

fill in the blanks below using the key terms from this chapter.
personal finance
consumer
debt
paycheck to paycheck
credit
interest rate
loan shark
interest
financial plan
net worth
asset
liability
positive net worth
negative net worth
net income
expense
financial literacy

1. having a(n) means the amount of your liabilities is larger than the value of your assets.
2. means having the knowledge and skills to manage your

Explanation:

1. Net worth is calculated as assets - liabilities. When liabilities > assets, net worth is negative.
2. Financial literacy refers to knowledge and skills for financial management.

Answer:

1. Negative Net Worth
2. Financial Literacy