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PCS - PF ch 3
Personal finance vocab for chapter 3
Term | Definition |
---|---|
budget | a written cash flow plan |
envelope system | series of envelopes that are divided into categories and used to store cash for planned expenses |
impulse purchase | an item that is bought without previous planning |
overdraft | occurs when money is withdrawn from a bank account and the available balance goes below zero |
reconcile | the act of matching your bank statement with your checkbook |
zero-based budget | a cash flow plan that assigns an expense to every dollar of your income |