Money Management and Financial Planning
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| What refers to the day-to-day financial activities associated with using limited income to satisfy your unlimited needs and wants? | money management | ||||
| What are items of value? | personal assets | ||||
| What is the difference between a person's asset and liabilities? | net worth | ||||
| What reports net wages and other income along with spending for a period? | cash flow statement | ||||
| What are costs that occur on a regular basis and are for the same amount each time? | fixed expenses | ||||
| What involve living costs the differ each time and may not be as easy to estimate? | variable expenses | ||||
| What is the amount of money you plan to use for a certain budget category? | allowance | ||||
| What is actual spending compared with budgeted amounts? | budget variance | ||||
| What is a report that summarizes your current financial condition, acknowledges your financial needs, and sets a direction for your future financial activities? | financial plan | ||||
| What involves the accumulation and management of property during one's lifetime and the distribution of one's property at death? | estate planning |
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Created by:
schreiner
on 2009-10-30