What vocab term refers to: "spending less than allowed"
What is surplus
100
When revising financial goals, usually 1 year or less is known as what?
What is short term
100
"a report that summarizes your current financial condition, acknowledges your needs, and sets a direction of future finances," can be termed as what?
What is a financial plan
100
"Reports net wages and other income along with spending for a period," is known as what?
What is Personal Cash Flow Statement
200
What vocab term refers to: "amounts owed to others"
What is liabilities
200
What vocab term refers to: "spending more than allowed"
What is deficit
200
What vocab term refers to: "accumulation and management of property and distribution of this property at death"
What is estate planning
200
“Financial Check-up," is also known as what?
What is financial inventory
200
"gaining control of finances," takes place during what?
What is Developing a Financial Plan
300
What vocab term refers to: "difference between assets and liabilities "
What is net worth
300
What vocab term refers to: "amount of money allowed for each category"
What is allowance
300
When revising financial goals, a more complex/longer period is known as what?
What is long term
300
disability and unemployment are items of what?
What is insuring current income
300
"Refers to the day to day financial activities associated with limited income to satisfy your unlimited wants and needs," and "getting the most out of your money" is part of what Personal Financial Statements?
What is Money Management Basics
400
What vocab term refers to: "money you have available to spend"
What is cash inflows
400
What vocab term refers to: "costs that change each time"
What is variable expense
400
"changes in goals require changes in spending," takes place in what?
What is reviewing financial activities
400
"tax sheltered plan in which people can annually invest earnings," is known as what?
What is Individual Retirement Accounts (IRA)
400
"company inflows vs. outflows," is what step, in the Personal Cash Flow Statement?
What is the final step
500
What vocab term refers to: "money spent"
What is cash outflows
500
What vocab term refers to: "same amount each time"
What is fixed expense
500
"series of regular payments to retiree’s"
What is pensions
500
"Implementing a plan," takes place during what process?
What is a financial planning process
500
"rent, insurance, car payment," are examples of what kind of expense?