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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| overdraft | occurs when money is withdrawn from a bank account and the available balance goes below zero |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 |