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business chapter 4

all about planning your fututre

what is budgeting? this is planning your income and expenditure
what is estate? all possesions owned by a person eg house
what is a pension? a fund into which people pay while working and then recieve payments from it when they retire
what is a will? a legal document containing instructions from what should be done with personal money and documents after death
what is downsizing? moving into a smaller house
what is estate planning? deciding what will happen to your possesions after your death
what is the financial cycle of life? this helps people refine/adjust their needs at each stage of their lives
what are dependents? people who depend on you financially
Created by: angel555