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New JC: Chapter 1

Your financial life cycle

TermDefinition
Financial life cycle A series of stages that most people pass through during their lives. Each stage is different in terms of financial goals, income, spending and risk
Income The money you earn.
Expenditure The money you spend.
Salary A salary is a form of payment from the employer to the employee that you recieve each month.
Wages Form of payment paid by the employer to the employee every 2 weeks.
One source of income at the Childhood stage. Pocket money
One source of income at the Retirement stage. Pension
Created by: dunnejl1
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