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26 Cards in this Set
- Front
- Back
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Money Management |
Day-to-day financial activities necessary to get the most from one's money |
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Safe-Deposit Box |
A small, secure storage compartment that can be rented in a bank |
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Personal Financial Statement |
A statement that gives information about current financial position and presents a summary of income and spending |
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Personal Balance Sheet |
A financial statement that shows what one owns and debts that one owes |
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Net Worth |
The difference between the amount you own and the debts you owe |
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Assets |
Any items of value that you own, such as cash, real estate, personal possessions, and investments |
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Wealth |
Property that has a money value or an exchangeable value |
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Liquid Assets |
Cash and items that can be quickly converted to cash |
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Real Estate |
Land and any structures that are on it, such as a house or any other building |
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Resolve |
To reach a decision about |
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Secure |
Safe |
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Evaluate |
Assess |
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Foundation |
Basis |
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Encounter |
Experience unexpectedly |
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Cultivate |
Promote the growth |
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Market Value |
The price at which property would sell |
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Liabilities |
Debts that one owes |
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Insolvency |
The inability to pay debts when they are due |
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Cash Flow |
The movement of cash in and out of wallets and bank accounts |
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Income |
Cash inflow, including paychecks, allowances, and interest earned |
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Take-Home Pay |
Amount of income left after taxes and other deductions are subtracted from gross pay |
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Discretionary Income |
The money left over after paying for essentials such as rent, utilities, clothing, transportation and medications |
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Surplus |
Extra money that you can spend or save, depending on your financial goals and values |
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Deficit |
Negative cash flow, financial situation that occurs when more money is spent than earned |
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Budget |
Plan for spending and investing your money to meet your wants and needs |
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Budget Variance |
The difference between the amount budgeted and the actual amount spent |
