Vocabulary terms from Chapter 7
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| Budget | cash flow plan; assigns every dollar to a specific category/expense at the beginning of each month.
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| Discipline | self-control used in directing behavior; the key to wealth building is being consistent over time.
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| Envelope System | series of envelopes, divided into pre-determined categories, used to store cash for planned monthly expenses; self-imposed discipline tool to assist people in managing their monthly finances; possible categories include food, entertainment, gas, etc
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| Impulse Purchase | To buy an item without thinking about it
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| Reconcile | to match your bank statement with your checkbook, preferably within 72 hours of receiving the statement
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| Zero-Based Budget | cash flow plan that assigns an expense to every dollar of one’s income, wherein the total income minus the total expenses equals zero
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Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
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