HHS - Terms for Budgeting and Legal Documents
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| An offer made and accepted | Mutual assent | ||||
| Costs you are obligated to pay at specific times, regardless of other events | Fixed expenses | ||||
| Costs that vary in amount and type, depending on events and the choices you make | Variable expenses | ||||
| A legally enforceable agreement between two or more parties | Contract | ||||
| Anything of value that a person owns | Assets | ||||
| A person who promises to pay a note if the maker fails to pay | Co-signer | ||||
| A statement about a product's qualities or performance that the seller assures the buyer are true | Warranty | ||||
| An orderly program for spending,saving, and investing your income | Financial Plan | ||||
| A spending and saving plan based on your expected income and expenses | Budget | ||||
| Money that you owe to others, also known as debt | Liabilities | ||||
| An unconditional written promise to pay a specified sum of money upon demand of the holder | Negotiable instrument | ||||
| A computer program that organizes data in columns and rows and can perform calculations using the data | Spreadsheet | ||||
| A computer program that organizes data for easy search and retrieval | Database | ||||
| Money you have left to spend or save after taxes have been paid | Disposable income | ||||
| Difference between assets and liabilities | Net worth |
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Created by:
deblock
on 2009-03-30