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12 Cards in this Set

  • Front
  • Back
disposable income
the money you have left to spend or save after taxes have been paid.
finacial plan
a set of goals for spendng, saving, and investing the money you earn.
budget
spending and saving plan based on your expected income and expenses.
fixed expenses
costs you are obligated to pay at specific times, regardless of other events.
variable expenses
costs that vary in amount and type, depending on events and he choices you make.
assets
a list of items of value that a person owns.
liabilities
amounts of money owed to others.
net worth
the difference between the two.
contract
a legal enforcable agreement between the two or more parties.
consideration
anything of value exchanged as part of a contract.
negotiable instrument
an unconditionable written promise to pay a specified sum of money upon demand of the holder.
co-signer
a person who promises to pay the note if the maker fails to pay.