| Question |
Answer |
| Personal assets |
items of value |
| Money Management |
refers to the day to day financial activities associated with using limited income to satisfy your unlimited needs and wants |
| net worth |
a person's assets and liabilities |
| cash flow statement |
reports net wages and other income alnog with spending for a period. |
| Fixed expenses |
costs that occur on a regular basis |
| Variable expenses |
invlove living costs that differ each time and may not be as easy to estimate. |
| allowance |
is the amount of money you plan to use for a certian budget category. |
| budget variance |
the difference between actual spending and budgeted amounts. |
| fincial plan |
a report that summarizes your current fincial condition. |
| Estate planning |
involves the accumulation and management of property during ones lifetime and the distribution of one's property at death. |
Science Vocab 147928
