Busy. Please wait.

show password
Forgot Password?

Don't have an account?  Sign up 

Username is available taken
show password


Make sure to remember your password. If you forget it there is no way for StudyStack to send you a reset link. You would need to create a new account.
We do not share your email address with others. It is only used to allow you to reset your password. For details read our Privacy Policy and Terms of Service.

Already a StudyStack user? Log In

Reset Password
Enter the associated with your account, and we'll email you a link to reset your password.
Don't know
remaining cards
To flip the current card, click it or press the Spacebar key.  To move the current card to one of the three colored boxes, click on the box.  You may also press the UP ARROW key to move the card to the "Know" box, the DOWN ARROW key to move the card to the "Don't know" box, or the RIGHT ARROW key to move the card to the Remaining box.  You may also click on the card displayed in any of the three boxes to bring that card back to the center.

Pass complete!

"Know" box contains:
Time elapsed:
restart all cards
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.

  Normal Size     Small Size show me how

8.02Personal Finance

Financial Planning

Financial Planning A process of tracking and anticipating income and expenditures
Financial Goal A specific aim to be accomplished with the use of financial planning
Continual Ongoing, without ending
Cyclical Occurring in a cycle, with steps repeated in sequence over and over
Wealth Having a large amount of money of property
Living within one's means Being able to pay all expenses with available income
Financial Statement A document or tool that shows personal financial information/data
Balance Sheet A financial statement that shows the assets, liabilities, and net worth of an individual or family on a set date
Asset Anything with monetary value that a person owns
Liability Anything that is owed to someone else; a debt
Net Worth The amount of money remaining when total liabilities are subtracted from total assets
Income and Expense Statement A financial statement that shows all income and expenses of an individual or family during a specific time period, usually a month or a year
Cash Flow The income and expenses of an individual or family during a time period
Income Total earnings received
Expense Any expenditure; anything that costs money
Net Gain The amount of money one has after subtracting expenses from income
Net Loss The amount of additional money needed when expenses are greater than income
Spending Plan A financial statement used to plan income and expenses for a future time period; also known as a budget of financial plan
Created by: mobleyke