Financial Lit. Quiz Word Scramble
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Term | Definition |
budget | a plan for managing your money; an estimate of income and expenses over a period of time |
expenses | anything you spend your money on |
mortgage | a loan attained through the conveyance of property; house payment |
amortization | to reduce or extinguish debt; principal/interest split |
principal | the original sum of money invested or borrowed |
interest | money paid at a particular rate for the use of money lent |
financial success | means different things to different people |
assets | things you own that have value |
cash expenses | monthly amounts of cash you pay out |
balance sheet | a statement listing your assets, liabilities, and net worth |
cash flow statement | a statement listing your cash income, cash expenses, and your cash savings or deficit |
cash income | monthly amount of cash coming in to you |
deficit | a negative cash flow in which monthly income is less than monthly cash expenses |
financial status | your current financial position or situation |
fixed expenses | expenses that stay relatively the same each month |
generic items | lesser-known items that sell at a discount |
liabilities | amounts you owe others |
net worth | your total assets minus your total liabilities |
savings | a positive cash flow in which monthly cash income is more than monthly cash expenses |
value | the satisfaction you get for a purchase |
variable expenses | expenses that vary a lot from one month to the next and are often a matter of choice (i.e. fast food, clothing, entertainment) |
Created by:
KatherineMagnuson
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