Stack #425097 Word Scramble
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Question | Answer |
Accredited Financial Counselor | Pass two exams: one in personal finance and one ins financial counseling |
Assets | Include everything you own that has monetary value |
Balance Sheet (Net Worth Statement) | Describes an individual's or family's financial condition on a specified date by showing assets, liabilities, and net worth. |
Certified Financial Planner | A planner must pass a two-day examination, have three years of work experience in the field, agree to adhere to a code of ethics, and continuously update his or her financial planning knowledge. |
Disposable Personal Income | The amount of your income remaining after taxes and withholding for such purposes as insurance and union dues. |
Expenses | Total expenditures made |
Fair Market Value | What a willing buyer would pay a willing seller, not the amount originally paid. |
Fee-only Financial Planner | Earn no commissions and work solely on a fee for service basis-- they charge a specified fee for the services provided |
Financial Goals | Are the specific long and short term objectives to be attained through financial planning and management efforts. |
Financial Planning | The process of developing and implementing a coordinated series of financial plans to achieve financial success. |
Financial Ratios | Are numerical calculations designed to simplify the process of assessing your financial condition. |
Financial Strategies | Are pre-established plans of action to be implemented in specific situations. |
Fixed Expenses | Are usually paid in the same amount during each time period; they are often contractual such as automobile and installment loans. |
Income | Total income received |
Insolvent | To have a negative net worth |
Liabilities | Are your debts |
Net Worth | The dollar amount left when what is owed is subtracted from the dollar value of what is owned--when liabilities are subtracted from assets. |
Values | Your fundamental beliefs about what is important, desirable, and worthwhile. |
Variable Expenses | Are expenditures over which an individual has considerable control.---Food, entertainment, clothing |
Created by:
namarque
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