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What is money management? refers to the day-to-day financial activities associated with using limited income to satisfy your unlimited needs and wants
What is personal assets? Assets include such things as money in bank accounts, investments, furniture, clothing, automobiles, jewelry, and rate coins.
What is net worth? The difference between a person's assets and liabilities.
What is cash flow statement? To examine changes in a person's net worth, another financial statement can be helpful.
What is Fixed expenses? are costs that occur on a regular basis and are for the same amount each time.
What is Variable expenses? involve living costs that differ each time and may not be as easy to estimate.
What is allowance? is the amount of money you plan to use for a certain budget category.
What is budget variance? All columns were totaled at the end of the month. Actual spending is compared with the budgeted amounts.
What is financial plan? is a report that summarizes your current financial needs, and sets a direction for your future financial activities.
What is individual retirement account? An IRA is a taxsheltered retirement plan in which people can annually invest earnings up to a certain amount.
What is Estate planning? involves the accumulation and management of property during one's lifetime and the distribution of one's property at death.
Created by: Jessica Fudge
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