A
The price at which property can be sold now. What it is worth in today's dollars
Market Value
Documents that provide information about your current financial position and present a summary of your income and spending are called
Personal Financial Statements
a small, secure storage compartment that can be rented in a bank
Safe Deposit Box
the things that you owe are called
the things that you own are called
Assets
Net worth shows up on which personal financial statement?
Balance Sheet
Assets minus Liabilities equals. . .
Net Worth
What are the 2 main things that show up on the balance sheet?
Assets and Liabilities
the money left over after bills are paid and essentials are paid for is called ________ income
Discretionary
Cash and items that can be quickly converted to cash are called
Liquid Assets
a situation that occurs if a person spends more than they receive opposite of a surplus
Deficit
The opposite of a deficit. This occurs when we spend less than we make and have money left over as a result.
Surplus
a debt that is due in less than a year is called
Current Liability
Houses and land that goes with them are examples of what kind of asset?
Real Estate
The amount you make after taking taxes out of your Salary is called
Take Home Pay
Fixed Expenses
Expenses that change each month
Variable Expenses
Give one example of real estate
House, Property, Land
Give one advantage to a safe deposit box.
Fireproof, locked, secure
A difference between expected and actual amounts on a budget is called . . .
a Variance
Student loans fall into what category on the balance sheet
Long Term Liability
A stock in Amazon Company falls into what category on the balance sheet
Investment Assets
Net Worth $200
The government index that tracks inflation in the economy is called
CPI - Consumer Price Index
If a person has more liabilities than assets, then they are said to be "I_________" (Vocab word)
Insolvent