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Chapter-16

QuestionAnswer
Personal assets items of value
Money Management refers to the day to day financial activities associated with using limited income to satisfy your unlimited needs and wants
net worth a person's assets and liabilities
cash flow statement reports net wages and other income alnog with spending for a period.
Fixed expenses costs that occur on a regular basis
Variable expenses invlove living costs that differ each time and may not be as easy to estimate.
allowance is the amount of money you plan to use for a certian budget category.
budget variance the difference between actual spending and budgeted amounts.
fincial plan a report that summarizes your current fincial condition.
Estate planning involves the accumulation and management of property during ones lifetime and the distribution of one's property at death.
Created by: johnfreund1
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