The Cash Flow
Any money you receive is known as what?
What is Income
Something that puts money in your pockets is a what?
What is an Asset
The urge to satisfy a want immediately is known as what?
What is Instant Gratification
Anything that you spend money on is known as what?
What is An Expense
What term describes what you have when you spend exactly what you earned?
What is Break-Even
The ability to resist a smaller, immediate reward for a bigger one later is called what?
What is Delayed Gratification
What is the specific goal of tracking your income and expenses?
What is To understand your spending habits
Something that takes money out of your pockets is a what?
What is a Liability
The rule that forces you to wait 48 hrs. before making a major purchase is known as what?
What is Wait-48
What does it mean to have a debt
What is Owing Money
What is Net Cash Flow?
What is The amount of money moving in and out of your pockets
in Financial Literacy, Utility refers to what?
What is The usefulness/utilization you have of a product/service
What is the definition of Financial Literacy
What is Understanding how money works and how to manage it
What is the formula to calculate Net Cash Flow?
What is Income-Expenses = Net Cash Flow
Economic Scarcity refers to what major problem?
What is Having unlimited wants but limited resources