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Money Management

Section 28.1 and 28.1 Madi Gordon

QuestionAnswer
spending, saving, and investing your money so you can enjoy the kind of life you want, along with financial security. Personal financial planning
things you want to accomplish Goals
what you give up when you make once choice instead of another. Opportunity cost
method of planning to get the most from one's money. money management
a plan for using your income in a way that best meets your wants and needs. budget
the actual amount you earn or recieve during a given period. income
total amount of money you earned for a specific time. gross pay
amounts that are taken out of your pay before you recieve your paycheck. deductions
your gross pay minus deductions. net pay
amount of money used to buy or do something. expense
expenses that occur regularly and are regularly paid. fixed expenses
expenses that change and can be controlled more easily than fixed expenses. variable expenses
difference between budgeted amount and the actual amount that you spend. budget variance
extra money that can be spent or saved depending on goals and values. surplus
occurs when money i sspent than earned or recieved. deficit
one that provides information sources
to carry out successfully; accomplish achieve
look over again in order to correct or improve revise
a source of supply or support resources
to make use of utilize
Becuase of a preceding fact or premise hence
being or occuring at the middle place, stage, or degree between extremes intermediate
greater in dignity, rank, importance, or interest. major
Created by: madilyn_gordon