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15 Cards in this Set
- Front
- Back
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cash flow
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record of past monies spent
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budgeting
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record of future predicted monies spent
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liability
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an obligation owed
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asset
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Something you own. An asset can be property, such as your home , a diamond ring, a car, securities; debts owed to you; or cash.
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net worth
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assets minus liabilities
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earned income
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Compensation, such as salary, commissions and tips, you receive for your personal services.
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cash flow
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On a personal basis, this is how much money is coming into (in the form of wages, dividends, etc.) your home, and how much is going out (via debts and expenses).
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gross income
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All of your income from taxable sources, before subtracting any adjustments, deductions or exemptions.
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expenditure
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Cash paid or to be paid for the purchase of an item or for a service performed
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Goals/Strategies
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broad statement of a result you intend to achieve and the course of action which is designed to achieve that result.
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amoritization
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The repayment of a loan by installments
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appreciation
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Increase in the value of an asset.
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depreciation
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decrease in the value of an asset
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borrow
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To obtain or receive money on loan with the promise or understanding that it will be repaid.
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budget deficit
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The amount by which government spending exceeds government revenues
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