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10 Cards in this Set
- Front
- Back
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Assets
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Items of value that one owns, including saved money
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Average Annual Expenditures
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Yearly averages of how consumers spend their money
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Balance Sheet
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A statement of assets, liabilities, and resulting net worth
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Budget
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A spending and saving plan based on an estimate of income and expenses
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Emergency Fund
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Money put aside ot help meet unexpected needs
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Fixed Expenses
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Cost of items that one has already promised to pay on certain dates and in certain amounts
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Liabilities
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Debts owned by and individual or family
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Net Worth
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The difference between assets and liabilities
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Net Income
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The amount of your earnings left after all dedutions have been made
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Flexible Expenses
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Cost of items that vary in amount and usually in ferquency
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