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Money Management and Financial Planning

What refers to the day-to-day financial activities associated with using limited income to satisfy your unlimited needs and wants? money management
What are items of value? personal assets
What is the difference between a person's asset and liabilities? net worth
What reports net wages and other income along with spending for a period? cash flow statement
What are costs that occur on a regular basis and are for the same amount each time? fixed expenses
What involve living costs the differ each time and may not be as easy to estimate? variable expenses
What is the amount of money you plan to use for a certain budget category? allowance
What is actual spending compared with budgeted amounts? budget variance
What is a report that summarizes your current financial condition, acknowledges your financial needs, and sets a direction for your future financial activities? financial plan
What involves the accumulation and management of property during one's lifetime and the distribution of one's property at death? estate planning
Created by: schreiner