vocabulary
what is the time between birth and death.
life span
what is a fixed expense.
is any form of money received, such as an allowance, a paycheck, gifts, and gains from an investment.
what is the difference between what is owned and what is owed.
net worth
what is a plan for the use of money over time based on goals, expenses, and expected income.
budget
A variable expense is?
cost that changes both in the amount and time it must be paid. Variable expenses include items such as food, clothing, and entertainment.
what is an item of value that is owned, such as cash, stocks, bonds, real estate, and personal possessions.
asset
what is a software program that formats data in columns and rows and can perform calculations.
spread sheet
what is a discretionary expense
is an amount spent for an item that a person could do without.
what is an item of value that is owned, such as cash, stocks, bonds, real estate, and personal possessions.
asset
what is the development of a strategy to meet a person’s financial needs over the course of a lifetime.
The nature financial planning
wealth is?
an abundance of money and other assets.
Saving money is needed for major purchases and medium- and long-term goals
what is any form of money received, such as an allowance, a paycheck, gifts, and gains from an investment.
income
what is a emergency fund for?
money that can be easily accessed in case of a job layoff, illness, or unexpected expense.